Tag: Small Business

Summer is a good time to take stock of how your small business is doing this year and consider options for reducing your 2024 federal income tax bill. Thankfully, it appears there won't be any Read More

Summer is a great time for business owners to review their estate plans. Maybe your kids are home for summer break, so they're top of mind. Or perhaps you're vacationing with relatives or getting together Read More

Every two years, the Association of Certified Fraud Examiners (ACFE) publishes a study detailing the costs, schemes, perpetrators and victims of occupational fraud. "Occupational Fraud 2024: A Report to the Nations" was recently released. It Read More

At the start of 2024, three dozen states and New York City already had pass-through entity taxes (PTETs) on their books, with legislation pending in three other states. These types of workarounds for the current Read More

The rules for deducting depreciation expenses on vehicles used for business purposes have been liberalized under current tax law, but they remain complicated. In addition, annual inflation adjustments make allowable depreciation deductions moving targets. (See Read More

The qualified business income (QBI) deduction is available to eligible individuals through 2025. After that, it's scheduled to disappear, unless Congress passes legislation to extend it. With 2024 underway, it's now use-it-or-lose-it time for the Read More

As tax season heats up, companies of all kinds and sizes will be on the hunt for ways to reduce their tax bills. One of the most common ways is through business expense deductions, but Read More

As year end approaches, small business owners should review their tax situations to determine ways to lower federal income taxes for the current tax year — and beyond. Fortunately, no significant unfavorable federal tax law Read More

Entrepreneurs and others who work for themselves are often on the hook for significant federal self-employment (SE) tax, in addition to federal and state income taxes. Here are the answers to some common questions about Read More

Are you considering inviting an employee or an outsider to participate in your existing partnership? Before making any commitments, it's important for you and the prospective partner to understand the potential federal tax implications. Important: Read More