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Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of

Partnerships are often used for business and investment activities. Multi-member LLCs are also treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules, so it’s important

If you’re the owner of a pass-through entity, the taxes on real estate gains from the sale of business real estate or vacant land may be more complicated than you thought. Here’s a look at the issues. Let’s say you own real estate that has been held for more than one year and is sold

Get ready. The upcoming presidential and congressional elections may significantly impact the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would like to handle it. How We Got Here The Tax Cuts and

Is your business using clean, or renewable, energy? You could qualify under the Inflation Reduction Act of 2022 (IRA) for renewable energy tax credits that reduce your federal tax liability. As part of IRA, the Investment Tax Credit (ITC) and Production Tax Credit (PTC) for businesses were both updated and extended and, in 2025, will expand even more — including direct pay and transfer options. In this article, we’ll detail the benefits offered and qualifications for each.

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 U.S. Department of Labor recently announced new overtime rules titled “Defining and Delimiting the Exemptions for Executive, Administrative, Professional, Outside Sales, and Computer Employees.” These rules will take effect on July 1, 2024. Here is what you need to know: New Overtime Rules Purpose The rule updates and revises the regulations for determining whether

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are strategies you can use to soften the blow of the NIIT. Are you subject to the Net Investment Income Tax? You’re potentially liable for the

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.

If you own a business or are embarking on an entrepreneurial journey, keeping meticulous business records of your income and expenses is non-negotiable. This practice is not only crucial for claiming every tax deduction you’re entitled to but also serves as your shield should the IRS scrutinize your tax returns. Effective recordkeeping and management of