When Will I Get My 2019 Tax Refund? The Shutdown Might Affect It.
With the partial federal government shutdown now going into its 34th day as of Jan. 24, the already daunting chore of filing taxes may have some taxpayers [...]
Business Deductions for Meal, Vehicle and Travel Expenses: Document, Document, Document
Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could find your deductions denied by the IRS. [...]
Be Sure Your Employee Travel Expense Reimbursements Will Pass Muster With the IRS
Does your business reimburse employees’ work-related travel expenses? If you do, you know that it can help you attract and retain employees. If you don’t, you might [...]
Assessing the S Corp
The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not all businesses [...]
Cash vs. Accrual Reporting: Which is Right for Your Business?
Small businesses often use the cash-basis method of accounting. As businesses grow, they usually convert to accrual-basis reporting for federal tax purposes and to conform with U.S. [...]
How Dishonest Employees Use Shell Companies to Commit Fraud
For many entrepreneurs, getting a “doing business as” (DBA) certificate enables them to open a small business. However, DBAs can also be used to open shell companies. [...]
Do you qualify for the home office deduction?
Under the Tax Cuts and Jobs Act, employees can no longer claim the home office deduction. If, however, you run a business from your home or are [...]
Feeling Lucky? How To Find a Pot of Gold in Your Financials
Every business experiences occasional cash shortages. When this happens, owners often assume they should go out and sell more. But this strategy can sometimes compound money troubles [...]
Could a cost segregation study help you accelerate depreciation deductions?
Businesses that acquire, construct or substantially improve a building — or did so in previous years — should consider a cost segregation study. It may allow you [...]