2 min read
Hire Your Children This Summer: Everyone Wins
If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids...
To help you understand the implications of the recent Corporate Transparency Act
We have prepared a selection of frequently asked questions.
Business Owners & Entrepreneurs (7)
2 min read
Consider a Roth 401(K) Plan — and Make Sure Employees Use It
Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the Plan...
2 min read
Employee vs. Independent Contractor: How Should You Handle Worker Classification?
Many employers prefer to classify workers as independent contractors to lower costs, even if it means having less control over a worker’s day-to-day...
2 min read
How Entrepreneurs Must Treat Expenses on Their Tax Returns
Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know,...
2 min read
Will Leasing Equipment or Buying It Be More Tax Efficient for Your Business?
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets. Although...
2 min read
When Are LLC Members Subject to Self-Employment Tax?
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in...
2 min read
Could Your Business Benefit from the Tax Credit for Family and Medical Leave?
The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and medical leave to their employees....
1 min read
There’s Still Time for Small Business Owners to Set up a Sep Retirement Plan for Last Year
If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified...
2 min read
A Refresher on Major Tax Law Changes for Small-Business Owners
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce...
2 min read
Business Real Estate Depreciation: Before You File 2018 Return
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every...
4 min read
Should You Switch Your Business to C Corp Status?
Thanks to the Tax Cuts and Jobs Act (TCJA), the federal income tax rate on C corporations is now a flat 21%, for tax years beginning in 2018 and...
2 min read
Own a Business? An Exit Strategy Should Be Part of Your Tax Planning
Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks...
1 min read
Which Tax-Related Limits Affecting Your Business Are Increasing in 2019?
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some of the...