Tag: Tax

As the midpoint of the year fast approaches, it's a good time for manufacturers to assess their tax status and plan appropriate strategies for reducing their 2022 tax liability. Although each situation is unique, here Read More

In today's tight labor market, small businesses — including restaurants, delivery services, retail stores and manufacturers — are struggling to attract and retain top-quality staff. The conditions are likely to worsen in many sectors as Read More

In general, the value of statutory fringe benefits paid to employees is exempt from federal income tax. But special rules apply to S corporation shareholders who own 2% or more of a company. For these Read More

If you own a small or medium-sized business, it may be eligible for some significant tax breaks that aren't available for larger entities. Here are three examples to consider as you file your tax return Read More

First-year bonus depreciation typically creates a powerful tax incentive for eligible manufacturers to purchase qualified property needed for business reasons. These tax write-offs can benefit a manufacturer's cash flow, but claiming them isn't always the Read More

The holidays often inspire a spirit of generosity. So, at year end, many people decide to give money or assets to their loved ones. Over time, lifetime gifts can also be an effective way for Read More

Virtual currencies, also known as cryptocurrencies, have gone mainstream. For example, you can use Bitcoin to buy a Tesla, or you can use a Bitcoin wallet on your smartphone to make everyday purchases. But beware: Read More

It is the 4th quarter, it's time to think about your current federal tax situation. Tax planning strategies are especially complicated for 2020. There are a lot of moving pieces: The COVID-19 pandemic has caused Read More

The 4th quarter of 2020 has begun and it is more important than ever to consider mid-year tax planning ideas. What steps can business owners take today to lower taxes for the current tax year? Read More

During the COVID-19 crisis, some key tax deadlines were postponed until July 15, 2020. If your business and/or personal federal income tax return is still awaiting completion, you may have significant retroactive tax-planning flexibility. The Read More