One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’…Read More
Archive for the ‘Tax’ Category
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FAQs about Home Office Deductions
In the past, home office deductions were available to a wide range of taxpayers, including certain employees who worked from home. But the Tax Cuts and Jobs…Read More
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Holiday Parties and Gifts Can Help Show Your Appreciation and Provide Tax Breaks
With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and…Read More
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5 Ways to Trim 2019 Taxes
Here are 5 ways businese owners who use an accrual-based accounting system can minimize their 2019 tax bill.Read More
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2 Valuable Year-End Tax-Saving Tools for Your Business
At this time of year, many business owners ask if there’s anything they can do to save taxes for the year. Under current tax law, there are…Read More
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The Tax Implications If Your Business Engages in Environmental Cleanup
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
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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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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