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Scott Henvey

To help you understand the implications of the recent Corporate Transparency Act

We have prepared a selection of frequently asked questions.

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Gift and parties gratitude and tax breaks

2 min read

Giving gifts and throwing parties can help show gratitude and provide tax breaks

The holiday season is here. During this festive season, your business may want to show its gratitude to employees and customers by giving them gifts...

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Company car and taxes

2 min read

A company car is a valuable perk but don’t forget about taxes

One of the most appreciated fringe benefits for owners and employees of small businesses is the use of a company car. This perk results in tax...

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2 min read

Don’t forget to empty out your flexible spending account

If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an important...

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IRA Early Withdrawal

2 min read

11 Exceptions to the 10% penalty tax on early IRA withdrawals

If you’re facing a serious cash shortfall, one possible solution is to take an early withdrawal from your traditional IRA. That means one before...

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Business Entity

2 min read

Choosing a business entity: Which way to go?

If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you...

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business travel rates

2 min read

New per diem business travel rates kicked in on October 1

Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into...

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Tax for renting vacation home

2 min read

The tax implications of renting out a vacation home

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains, or in a resort...

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Investment swings: What’s the tax impact?

2 min read

Investment swings: What’s the tax impact?

If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided...

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depreciating business assets

2 min read

Update on depreciating business assets

The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. However, the amounts change every year due to inflation...

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tax consequences of employer-provided life insurance

2 min read

The tax consequences of employer-provided life insurance

If your employer provides life insurance, you probably find it to be a desirable fringe benefit. However, if group term life insurance is part of...

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tax break for making energy-efficient home improvements

2 min read

Pocket a tax break for making energy-efficient home improvements

An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred...

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nursing home and tax implications

2 min read

Moving Mom or Dad into a nursing home? 5 potential tax implications

More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking...

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corporate or shareholders that pay expenses

1 min read

Corporate officers or shareholders: How should you treat expenses paid personally?

If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up being...

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