Tax and Accounting
Income Shifting Strategies to Help Business Owners Become More Tax Efficient
This segment discusses different strategies that can potentially help a business owner become more tax efficient. Some methods include the restructuring of a business and establishing tax-deductible retirement plans. Synopsis The concept of characterization of…
7 Things Not to Do During an Audit
We get it. Tax audits can be nerve-racking, to say the least. And while there is a lot of information out there on what is appropriate to do, there isn’t much on what not to…
Solid Bookkeeping for Solid Finances
Don’t have time for keeping the books on your business? Better think again. Practicing good bookkeeping can make all the difference between a business that succeeds and one that flounders in the doldrums. Here’s how…
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 states offer lucrative credits and incentives to do so. We assist…
What Businesses Need to Know About the Tax Treatment of Bitcoin and Other Virtual Currencies
Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as digital, electronic or crypto currency. While most smaller businesses…
Tax Consequences of Crowdfunding
Crowdfunding websites such as Kickstarter, GoFundMe, Indiegogo, and Lending Club have become increasingly popular for both individual fundraising and small business owners looking for start-up capital or funding for creative ventures. The upside is that…
Georgia: New Sales Tax Compliance Requirements for Online Retailers
Georgia will require online retailers to file sales tax compliance returns beginning January 1, 2019, if their annual Georgia revenues exceed $250,000 or if they have more than 200 separate retail transactions within the state…
Tax Reform Creates Desire for the C Corporation
When you first see a 21 percent tax rate for the C Corporation, you have to think this could be the choice of entity for your business operation. Further, when you find yourself in the out-of-favor…
What to Consider If You Work from a Home Office
If you work from home, you may be wondering whether you can deduct your office space from your federal tax returns. The short answer is: Yes, absolutely! But the IRS has very specific guidelines for…
6 Different Ways to Resolve Outstanding Tax Debts
Getting a notice from the IRS that you owe back taxes can be intimidating. Usually, though, the IRS is willing to work with taxpayers who want to resolve tax debt. The Fresh Start Program makes…
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