Six tax issues to consider if you’re getting divorced
October 11, 2024
Divorce entails difficult personal issues, and taxes are probably the farthest thing from your mind. However, several tax concerns may need…
Vroom vroom: What businesses should know about sales velocity
October 9, 2024
Owning and running a company tends to test one’s patience. You wait for strategies to play out. You wait for materials, supplies or…
Closing a business involves a number of tax responsibilities
October 7, 2024
While many facets of the economy have improved this year, the rising cost of living and other economic factors have caused many businesses…
How are Series EE savings bonds taxed?
October 4, 2024
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which…
Strategic planning for businesses needs to include innovation
October 2, 2024
When the leadership teams of many companies engage in strategic planning, they may be inclined to play it safe. And that’s understandable;…
Business website expenses: How they’re handled for tax purposes
September 30, 2024
Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be…
The tax implications of disability income benefits
September 27, 2024
Many Americans receive disability income. Are you one of them, or will you soon be? If so, you may ask: Is the income taxed and if it is,…
Would an adoption assistance program suit your company?
September 25, 2024
There’s no one-size-fits-all benefits package for today’s businesses. The optimal combination of tax-friendly fringe benefits depends on…
The possible tax landscape for businesses in the future
September 23, 2024
Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United…
Do you owe estimated taxes? If so, when is the next one due?
September 20, 2024
Federal estimated tax payments are designed to ensure that certain individuals pay their fair share of taxes throughout the year. If you…
Businesses should stay grounded when using cloud computing
September 18, 2024
For a couple decades or so now, companies have been urged to “get on the cloud” to avail themselves of copious data storage and a wide…
Understanding taxes on real estate gains
September 16, 2024
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from…
New option for unused funds in a 529 college savings plan
September 13, 2024
With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t…
Applying for a commercial loan with confidence
September 11, 2024
Few and far between are businesses that can either launch or grow without an infusion of outside capital. In some cases, that capital comes…
Better tax break when applying the research credit against payroll taxes
September 9, 2024
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break…
A job loss is bad but the tax implications could make it worse
September 6, 2024
Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain…
Empower your sellers with sales enablement
September 4, 2024
The driving revenue force of just about every kind of business is sales. But all too often, once a sales team is up and running, it’s left…
Maximize the QBI deduction before it’s gone
September 2, 2024
The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So…
Beware of a stealth tax on Social Security benefits
August 30, 2024
Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the…
B2B businesses: Assess customer credit carefully
August 28, 2024
Does your company operate in the business-to-business (B2B) marketplace? If so, you’re no doubt aware of the double-edged sword that is…
Bartering is a taxable transaction even if no cash is exchanged
August 26, 2024
If your small business is strapped for cash (or likes to save money), you may find it beneficial to barter or trade for goods and services.…
How renting out a vacation property will affect your taxes
August 23, 2024
Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to already own a…
Should your business change its health care plan for next year?
August 21, 2024
Open enrollment for most health care plans is many months away. That makes now a good time for businesses to consider changing their…
Coordinating Sec. 179 tax deductions with bonus depreciation
August 19, 2024
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big…