Category: Business Tax

To help you identify strategies that might work for you in 2019, we're pleased to present the 2019-2020 Tax Planning Guide.  It provides a refresher on some of the most significant changes that generally went into effect last year under the Tax Cuts and Jobs Act (TCJA) - an...

We all know that solar energy can save you money on future energy costs. But did you also know that there is a federal Solar Investment Tax Credit (ITC) of up to 30% of the total cost of the energy property? The energy property must meet performance and quality standards, mu...

Early revenue recognition has long accounted for a substantial portion of financial statement fraud. By recording revenue early, a dishonest business seller or an employee under pressure to meet financial benchmarks can significantly distort profits. Fortunately, fraud exper...

Key Tax Deadlines for Businesses and Other Employers:  Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2019. This list isn’t all-inclusive, so there may be additional deadlines that apply to you....

Life presents us with many choices: paper or plastic, chocolate or vanilla, regular or decaf. For businesses, a common conundrum is buy or lease. You’ve probably faced this decision when considering office space or a location for your company’s production facilities. But...

Many of the favorable attributes of the new tax law apply to businesses with less than $25M of gross receipts. In addition, these entities avoid the 30% of taxable income interest limitations under §163(j). Unfortunately, there is a significant exception to the $25M test. �...

Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. They allow you to buy company stock in the future at a fixed price equal to or greater than the stock’s fair market value on the ISO grant date. If the sto...

The Tax Cut and Jobs Act imposed a new limitation for business interest expense.  Interest expense for the year is limited to 30% of adjusted taxable income plus any floor plan financing interest paid by vehicle dealers under new code section 163(j)(1).  This limitation ap...

A key provision of the new tax law is the Qualified Business Income Deduction (QBI Deduction), which is available to qualifying trades or businesses. The key phrase here is “trade or business”, which isn’t clear cut with regard to rental real estate....

Ask many entrepreneurs and small business owners to show you their financial statements and they’ll likely open a laptop and show you their bookkeeping software. Although tracking financial transactions is critical, spreadsheets aren’t financial statements.  In short, f...

One of the changes made to the tax laws by the Tax Cuts and Jobs Act (TCJA) was to disallow a tax deduction for qualified transportation fringe benefits businesses provide to their employees. Qualified transportation fringe benefits (QTFs) include:...

Investment interest expense is still deductible, but that doesn't necessarily mean you'll benefit.  As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA kept intact is for investme...