Tax Tips

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to […]

What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation […]

In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer’s return. Examiners may use IRS “Audit […]

Accountable plans reimburse employees for work-related expenses free of federal income and employment taxes. So, reimbursement payments aren’t subject to withholding from staffers’ paychecks. Your not-for-profit also benefits because […]

If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should […]

While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to launch new businesses. For example, some businesses are being launched online […]

If you’re the owner of an incorporated business, you probably know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as […]

Outside financial audits may seem like an extravagance to not-for-profits working to contain costs and focus on their mission. But undergoing regular audits allows your organization to identify risks […]

If you’re self-employed and work out of an office in your home, you may be entitled to home office deductions. However, you must satisfy strict rules. If you qualify, […]

When the calendar turned to 2018, we were welcomed with a new tax law. Along with this new tax law comes challenges and opportunities. A challenge we discovered is related […]

Starting August 1, 2018 through August 5, 2018 you will not have to pay sales tax on certain purchases. During the sale tax holiday, the following purchases are not taxable: […]

Starting May 15, 2018 through July 2, 2018, you might be eligible for a one‐time $100 child tax rebate. This is a rebate on sales and use tax paid on […]