Category: Business Tax

Are meals and entertainment expenses still deductible under the 2018 tax bill?  The Tax Cuts and Jobs Act (TCJA) brings with it many changes in the taxation of businesses and individuals, including a change in the tax deductibility of meals and entertainment (M&E) expenses....

Most employers reimburse their employee business expenses, but did you know that the structure of the reimbursement arrangement can have huge tax consequences. According to the tax rules, the key distinction between a true expense reimbursement and disguised compensation is ...

The new tax law makes major changes to the choice of entity decision. Because C corporations are now taxed at a flat rate of 21% (as opposed to a top rate of 35% under prior law), many business owners wonder whether they should structure or restructure their business operati...

Time to consider a new accounting method? The cash method of accounting, which allows you to recognize sales when cash is received, is attractive to many small businesses due to its simplicity. Due to the new tax law, for tax years beginning after 2017, the ability to use t...

Regardless of its form, every business will be subject to a net interest expense disallowance. Starting in 2018, net interest expense in excess of 30% of your business’s adjusted taxable income will be disallowed. ...

One of the most significant provisions is the new deduction for qualified business income which can be income from a sole proprietorship as well as income from pass-through entities such as partnerships, LLCs, and S corporations. ...

If you own part of a foreign corporation you should read this all the way to the end.  If you don’t own a foreign corporation you probably don’t need to read on because this is going to get ugly and it’s going to be really long, there is just no quick way to attempt t...

The Supreme Court ruled June 21, 2018 on a sales tax case that removed the physical presence standard that has long been the standard for sales tax....

Funny thing about customers: They can keep you in business — but they can also put you out of it. The latter circumstance often arises when a company overly relies on a few customers that abuse their credit to the point where the company’s cash flow...

The federal tax reform highlights affecting businesses include a flat rate for c corporations, new limits in business loss deductions, section 179 expensing changes, luxury auto depreciation annual limit increases and other provisions included in this blog....

Employees tend not to fully appreciate or use their retirement benefits unless their employer communicates with them about the plan clearly and regularly. ...