If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be deductible on your tax return as ordinary and…Read More
Blog
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Year-End Tax-Planning Moves for Businesses & Business Owners
Taxpayers other than corporations may be entitled to a deduction of up to 20% of their qualified business income. For 2019, if taxable income exceeds $321,400 for…Read More
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Small Businesses: Get Ready for Your 1099-Misc Reporting Requirements
A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors and others. You…Read More
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FAQs About Self-Employment Tax
Do you owe self-employment (SE) tax on non-wage income that you collect only occasionally or in a one-off circumstance? Some sources of income may not be subject…Read More
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Is a Health Savings Account Right for Your Business?
Business owners and their employees can benefit from a Health Savings Account in tandem with a high deductible health plan.Read More
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Valuing Profits Interests in LLCs
The use of so-called “profits interest” awards as a tool to attract and retain skilled workers has increased, as more companies are being structured as limited liability…Read More
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Thinking About Converting from a C Corporation to an S Corporation?
The right entity choice can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial tax advantages over C…Read More
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How to Reduce the Tax Hit on Soon-to-Be-Developed Land
In many places, real estate prices are soaring. That’s good news for owners of undeveloped land in those areas. But if they decide to subdivide and develop…Read More
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Understanding and Controlling the Unemployment Tax Costs of Your Business
As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar year. The rate…Read More
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Accelerate Depreciation Deductions with a Cost Segregation Study
Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you should consider a cost segregation…Read More