Tax and Accounting
Corporate Separations Under §355
In any successful family business there will likely come a time when descendants will want to take over the business from the older generation of owners. Usually, this will require that entities will need to…
Working from Home? Claim Your Home Office Deductions
Some of us are just too lazy to drive/ride to work every day, so we prefer to set up office at home. Well, jokes apart, some of the small business that operates right out of…
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 doesn’t allow deductions for certain expenses that, on the surface at…
The Tax Cuts Jobs Act Temporarily Expands Bonus Depreciation
The Tax Cuts and Jobs Act (TCJA) enhances some tax breaks for businesses while reducing or eliminating others. One break it enhances — temporarily — is bonus depreciation. While most TCJA provisions go into effect…
How to Handle Taxes on Bonus Wages Like a Payroll Expert
This blog post is written for American businesses. Click here for How the Bonus Tax Method Works in Canada. Supplemental wages are the wage payments you pay an employee outside of their regular wages. If you give…
What to Expect with Your Taxes in 2018
Now that sweeping new tax legislation has been enacted by Congress and signed into law by the President, tax experts are taking a closer look at just what the Tax Cuts and Jobs Act means…
Steps to Avoid an IRS Worker Classification Audit
Any small business must hire more people as the business grows and thrives. At the initial stage when work is sporadic, it may make sense to hire contractors like a web designer to create an…
Tax Cuts and Jobs Act: Key Provisions Affecting Businesses
The recently passed tax reform bill, commonly referred to as the “Tax Cuts and Jobs Act” (TCJA), is the most expansive federal tax legislation since 1986. It includes a multitude of provisions that will have…
Foreign Currency Exchange is Easier Than Ever
The way in which foreign currencies are exchanged has changed considerably over the course of the last two decades. Back in the mid to late 1990s, customers had few options or alternatives when it came…
2017 Year-End Tax Savings Tips Not to Overlook
With the possibility that tax law changes could go into effect next year that would significantly reduce income tax rates for many businesses, 2017 may be an especially good year to accelerate deductible expenses. Why?…
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