We have prepared a selection of frequently asked questions.
2 min read
Scott Henvey: May 10, 2024 9:33:35 AM
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise...
2 min read
Maurice La Verdure: Apr 16, 2024 3:58:31 PM
If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for...
2 min read
Scott Henvey: Apr 16, 2024 3:45:13 PM
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in...
2 min read
Maurice La Verdure: Apr 16, 2024 3:41:43 PM
Open enrollment for most health care plans is many months away. That makes now a good time for businesses to consider changing their...
2 min read
Scott Henvey: Apr 16, 2024 3:23:03 PM
The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So if you’re...
2 min read
Maurice La Verdure: Mar 7, 2024 9:07:35 AM
Few and far between are businesses that can either launch or grow without an infusion of outside capital. In some cases, that capital comes in the...
2 min read
Maurice La Verdure: Mar 7, 2024 9:00:33 AM
If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a...
2 min read
Scott Henvey: Mar 7, 2024 8:56:50 AM
Many small business owners run their companies as leanly as possible. This often means not offering what are considered standard fringe benefits for...
2 min read
Scott Henvey: Mar 7, 2024 8:46:16 AM
A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit...
2 min read
Maurice La Verdure: Feb 8, 2024 11:59:25 AM
When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need...
2 min read
Maurice La Verdure: Feb 8, 2024 11:50:32 AM
The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped...
2 min read
Maurice La Verdure: Jan 12, 2024 10:52:34 AM
No one likes to make a mistake. This is especially true in business, where a wrong decision can cost money, time and resources. According to the...
2 min read
Scott Henvey: Jan 12, 2024 10:46:13 AM
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per...
