Category: Business Tax

Here is a recap of the proposals in both the House and the Senate, that could affect your business in 2018 and beyond....

Republican House and Senate negotiators released a final tax bill on Friday bridging differences between the House and Senate bills and appeared to lock down the votes needed to passage....

UNICAP is short for Uniform Capitalization.  That probably doesn’t even help explain it.  The IRS Code Section 263A is all about the Uniform Capitalization rules.  In general UNICAP is the amount of costs that a company needs to capitalize related to their inventory....

Built-in Gains tax is a BIG bad wolf.  Every business owner should strive to avoid the built-in gains (BIG) tax like you would avoid the BIG bad wolf.  It’s not always possible to avoid it, but by planning ahead you can definitely minimize it.  So what is the BIG tax an...

For business owners with vehicles in their business the new tax bill has a few wrinkles that will affect how you treat those vehicles. There are two big items to discuss. ...

You don’t have to be Tom Petters or Al Capone to have two sets of books.  In fact, I believe that most if not all businesses can benefit from having two sets of books (financial statements), legally. ...

Cash is King! This is what I hear from many clients. It is very true since it is the deciding factor for many business decisions....

Rental property is a complicated subset of passive activities and making a real estate professional election can make a huge difference for people with rental losses.  Real Estate Professional basically means your full time job is real estate and it allows you to switch pas...

Many companies have life insurance on key employees and officers.  Kind of grim subject, but obviously if the key officers or shareholders get hit by a bus and dies, the company is going to have some rough times.  The life insurance proceeds can certainly help....

Year end can’t get here soon enough for some business owners — especially those whose companies have exceeded their annual budgets....

Your business financials — where they stand currently and where they might be going next year — are incredibly important....

Hundreds of years ago, prosperous towns managed the various risks of foreign invaders, thieves and wild animals by fortifying their entire communities with walls and towers. Today’s business owners can take a similar approach with enterprise risk management (ERM)....