Today is the last major filing deadline of the year, and it’s a perfect time to reflect. How was your experience with your tax preparer? Tax season can be a stressful time for individuals and […]
How do I pick the right tax preparer? Read More »
When it comes to hiring family members into your business, entrepreneurs need to be aware of the employment tax implications. In this article, we’ll list employment tax considerations when hiring parents or children, helping you
Tax Insights: What to know when hiring your child or parent Read More »
If you are in the early stages of running a business, there are a couple of basic requirements to make sure your accounting is in good shape. At a minimum, the business needs to: Have
Nail the basics. An accounting checklist for your small business. Read More »
These days, a cell phone is no longer just a personal device; it’s a workplace must-have. With cloud-based tech advancing rapidly, features like email, remote payment processing, document access, project management apps, work calendars, and
How do I create a company cell phone policy for my business? Read More »
Effective July 1, 2022, the business standard mileage rate for use of an automobile (including vans, pickup trucks and panel trucks) increases from $0.585 to $0.625, and the rate for medical and relocation mileage increases
IRS raises mileage rates effective July 1, 2022 Read More »
The Infrastructure Investment and Jobs Act (IIAJ) (to be signed by President Biden on November 15, 2021), retroactively ended the Employer Retention Tax Credit (ERTC) to apply only through September 30, 2021 (rather than through
IIAJ Retroactively Terminates Employee Retention Tax Credits Read More »
Below we have assembled a brief summary of some of the business taxpayer provisions of the American Rescue Plan Act of 2021 (ARPA), passed on March 11, 2021. Extension of the paid sick and expanded
The American Rescue Act of 2021 – Business Provisions Read More »
By now, you’ve probably heard that the recent stimulus legislation included a provision that removes the 50% limit on deducting business meals provided by restaurants in 2021 and 2022 and makes those meals fully deductible.
Change in Deductibility of Business Meals Read More »
On Sunday, December 27, 2020, the President signed into law one of the longest bills in US history. This bill, the Consolidated Appropriations Act 2021, is a sprawling 5,593 pages and contains a $900 billion
Consolidated Appropriations Act 2021 – Business Provisions Read More »
Originally published September 2, 2020 – updated April 9, 2025 You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five important points to
5 Key Points to Know About Bonus Depreciation Phase Out in 2025 Read More »
The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are retroactive and there may be opportunities for some businesses to file amended tax returns.
CARES Act made changes to excess business losses Read More »
