How Deducting Business Losses Changed with TCJA
TCJA has placed some limitations on deducting business losses. Here’s a look at the changes in the rules and how they might affect you.
Author: Andrew Litchford
Posts by Andrew Litchford
Small businesses: Get ready for your 1099-MISC reporting requirements
A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors and others.
What you Need to Know About Business Interest Limits
The Tax Cuts and Jobs Act (TCJA) introduced a variety of tax benefits for businesses. but it placed limits on several tax breaks, including interest expense deductions.
Who is Responsible for the 100% Penalty?
One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also that you pay them over to the federal government on time.
Making the Right Entity Choice: C Corporation vs. S Corporation
The right entity choice can make a difference in the tax bill you owe for your business. There are plenty of potentially expensive tax problems that you should assess before making the decision to convert from a C corporation to an S corporation.
The Basics of a Cost Segregation Study
A cost segregation study may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow.
The Facts about Health Savings Accounts
Given the escalating cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA).
Top 5 Accounting Tips: Start Your Business with the End in Mind
A comprehensive strategy to get your business up and running should include planning for your own exit. As one of the founders, your departure will have a significant impact on the enterprise itself, your fellow business partners, your customers and your future. So, as counterintuitive as it may seem, how you plan to exit your organization is an important decision to make, even at your business’s onset. Take the time to work with a trusted professional to outline your succession plan so that you are prepared for whatever future you encounter.
Unemployment Tax: Four Tips to Control FUTA Tax
Unemployment taxes can cost your business a bundle. That is especially true if a lot of former employees file unemployment claims against your business. Fortunately, you may be able to reduce your unemployment tax bill.
Chosen for an IRS Audit? Here’s what you need to know
Businesses, large corporations and high-income individuals are more likely to be audited but, overall, audit rates are historically low.