Can You Deduct Business Travel When It’s Combined With A Vacation?
At this time of year, a summer vacation is on many people’s minds. If you travel for business, combining a business trip with a vacation to offset [...]
Don’t Short Change Your Business With Under The Table Wages
If you’ve ever considered paying employees in cash under the table, resist the temptation. Not only do you and your workers risk penalties, but the practice may [...]
Profits: How Low Can You Go?
If your profits are falling compared to revenue and assets, your financial statements may provide insight into what’s happening and how to improve your performance. Watch for [...]
How Entity Type Affects Tax Planning For Owner-Employees
Come tax time, owner-employees face a variety of distinctive tax planning challenges, depending on whether their business is structured as a partnership, limited liability company (LLC) or [...]
Close-up on the new QBI deduction’s wage limit
The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business [...]
Preventing business identity theft: 5 tips
Identity theft isn’t just a consumer problem. Criminals steal the identities of businesses, too. In addition to filing fraudulent tax returns, criminals assume the identities of companies [...]
Does Your Business Have to Begin Collecting Sales Tax On All Out-of-State Online Sales?
You’ve probably heard about the recent U.S. Supreme Court decision allowing state and local governments to impose sales taxes on more out-of-state online sales. The ruling in [...]
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. [...]
How To Classify Shareholder Advances
Owners of closely held businesses sometimes need to advance their companies money to bridge a temporary downturn or provide extra cash flow for an expansion, a major [...]