First-year bonus depreciation has been around for a while now. However, the Tax Cuts and Jobs Act (TCJA) set forth more-generous, but temporary, rules for 2018 through…Read More
Archive for the ‘Tax’ Category
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2019 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. Keep in mind that this list isn’t all-inclusive,…Read More
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Tax Implications of Refinancing Your Home
You may be thinking about refinancing this year to take advantage of falling interest rates. Or you may have refinanced your home mortgage last year and have…Read More
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FAQs About Virtual Currency and Your Taxes
Virtual currency has gone mainstream. AT&T recently announced that its customers can use Bitcoin to pay their phone bills. Other big companies that accept Bitcoin include Microsoft,…Read More
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The Key to Retirement Security Is Picking the Right Plan for Your Business
There are many retirement plan options for small business owners and their employees. Here’s a quick rundown of three of them.Read More
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The Tax Implications of a Company Car
The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer…Read More
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Should You Elect S Corporation Status?
One of the most popular business structures is the S corporation because of its liability protection and tax benefits. Could it work for you?Read More
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Claiming Your Parent as a Dependent
If you pay over half the cost of supporting a parent, he or she is considered your dependent for federal income tax purposes — which may qualify…Read More
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The IRS Is Targeting Business Transactions in Bitcoin and Other Virtual Currencies
Is your small business accepting or using bitcoin or other virtual currencies yet? Familiarize yourself with the tax consequences, because the IRS is targeting users who fail to report and pay tax on transactions.Read More
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Take a Closer Look at Home Office Deductions
Working from home has its perks. Not only can you skip the commute, but you also might be eligible to deduct home office expenses on your tax…Read More