If you’re selling business property used in your trade or business, you should understand the tax implications. There are many complex rules that can potentially apply. To simplify this discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for
Here are some of the key tax deadlines affecting businesses and other employers during the third quarter of 2021.
The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).
In a partnership, adding a new partner has a number of financial and legal implications. Let’s imagine you and your partners want to add a new partner to the mix. By making a cash contribution, the new partner will have a one-third interest in the partnership. Assume that your basis in your partnership interests is
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022.
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 $928.4 billion by 2030, according to a report from Research and Markets. If you own your own company and travel for business, you may wonder whether you can deduct the costs of having
Check out our list of business documents to review for 2022 so you don’t find yourself digging through boxes to prepare for tax season.
If you use a vehicle in your business, you may wonder about the tax depreciation rules. The rules are complicated, and special limitations apply.
Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity.
A new 2022 per diem rate became effective October 1. Taxpayers can use these rates to substantiate expenses when traveling away from home.