Itemize or take the standard deduction? The 2024 rates may help you decide.
Ever heard of a cost segregation study? It’s a strategy that can yield tax benefits, but it’s not the right move for every business. Here’s how it can help accelerate depreciation deductions on the building that houses your enterprise.
Choosing the best entity for your business is a multi-faceted decision. Here’s a look at the some of the considerations.
The IRS recently announced the special “per diem” rates that became effective Oct. 1, 2023. Here are the basics of these rates.
Certain business owners and some of their employees don’t have to pay Social Security tax on all their wages. Amounts above a threshold aren’t subject to Social Security tax. The “wage base” for 2024 was recently announced by the Social Security Administration.
Business owners, their leadership teams and even advisors may be held liable under the trust fund recovery penalty rules. Here’s a review of this important payroll tax issue.
IRS examiners use publications called Audit Techniques Guides to prepare for audits in certain industries and those with various issues. You can read the publications too. Here’s how.
You want to be able to deduct business expenses on your tax return. But in order to be deductible, expenses must be ordinary, necessary and reasonable. Here are the rules.
Buying or selling a business? It may be the most important transaction you ever make. So, it’s important to seek professional tax advice as you negotiate. Don’t wait until a deal is done!
Many spouses operate small businesses together. Here’s a look at some of the tax issues they may face.