Surprising Expenses You Cannot Deduct

Taking all the tax deductions to which you’re entitled is only smart business, right? But you may be surprised to know that the IRS...

6 Things You Can Do This Fall to Prepare for the 2015 Tax Season

Fall has finally arrived. Believe it or not, this means the 2015 tax season is only about 3 months away. Because filing your taxes with the IRS is probably not your most favorite activity, there are some steps you can take this fall to prepare for a stress-free filing season early next year:

Preventing Tax Problems When Employees Travel

Sending employees on business trips is essential for countless companies and can result in tax headaches for both the employer and the employee if...

Where the Top 4 Small Business Payroll Processing Errors Occur

Did you know that as soon as you hire on a person to assist you with your self-employed business, you immediately have to add...

The Shoulds and Should Nots of Deductions

Working for yourself means you are responsible for your taxes. There's no employer deducting from your wages as you go. Thus, it's up to you to keep track of your earnings, and very importantly, understand what you can and cannot write off as a deduction.

Getting Your Finances in Order for Year-End

To run a successful business, getting your finances organized is absolutely essential, not least when preparing for year-end. By keeping track of your profits...

Capital vs. Operating Lease: Tax Reporting Implications

We often encounter taxpayers who do not quite fully understand how to report for income tax purposes the lease agreements they have entered into...

Can Business Owners Deduct Holiday Gifts on Their Tax Returns?

With the holiday season in full swing, many of us are in a gift-giving mood. So this begs the question: Does the IRS allow business owners to write off gift expenses as a tax deduction when filing with Uncle Sam?

Many States Lure Business with Tax Credits and Incentives

In the current competitive economic environment, states continue to compete against each other to lure companies (and their employees) to the “right” state. Many...

$1,500 Home Office Deduction Option: IRS Reminder

The IRS reminded people with home-based businesses that this year for the first time they can choose a new simplified option for claiming the deduction for business use of a home.

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