2 min read
When Are LLC Members Subject to Self-Employment Tax?
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in...
To help you understand the implications of the recent Corporate Transparency Act
We have prepared a selection of frequently asked questions.
Business Owners & Entrepreneurs (7)
2 min read
Could Your Business Benefit from the Tax Credit for Family and Medical Leave?
The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and medical leave to their employees....
1 min read
There’s Still Time for Small Business Owners to Set up a Sep Retirement Plan for Last Year
If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified...
2 min read
A Refresher on Major Tax Law Changes for Small-Business Owners
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce...
2 min read
Business Real Estate Depreciation: Before You File 2018 Return
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every...
4 min read
Should You Switch Your Business to C Corp Status?
Thanks to the Tax Cuts and Jobs Act (TCJA), the federal income tax rate on C corporations is now a flat 21%, for tax years beginning in 2018 and...
2 min read
Own a Business? An Exit Strategy Should Be Part of Your Tax Planning
Tax planning is a juggling act for business owners. You have to keep your eye on your company’s income and expenses and applicable tax breaks...
1 min read
Which Tax-Related Limits Affecting Your Business Are Increasing in 2019?
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some of the...
2 min read
Is There Still Time to Pay 2018 Bonuses and Deduct on 2018 Return?
There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to pay employee...
2 min read
6 Last-Minute Tax Moves for Your Business
Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute...
2 min read
When Holiday Gifts & Parties Are Deductible or Taxable
The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday...
2 min read
It’s Not Too Late: You Can Still Set up a Retirement Plan for 2018
If most of your money is tied up in your business, retirement can be a challenge. So if you haven’t already set up a tax-advantaged retirement plan,...
1 min read
Reduce 2018 Tax Liability - Buy Business Assets Before Year End
The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses.