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Any accounting, business or tax advice contained in these articles, including attachments and enclosures, is not intended as a thorough,in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis.
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Writing Off Your Business Start-Up Expenses
Article Highlights: $5,000 First-year Start-up and Organizational Expense Write-off Timely Filing Requirements Qualifying Start-up Expenses Trade or Business Purchase Qualifying Organizational Expenses Expense Write-off
You Can Expense Business IT Purchases
Thanks to some very liberal tax laws written to encourage investment in personal tangible equipment, including information technology (IT) equipment, many businesses will be
What Is a Joint Venture?
When multiple business entities make a decision to start a new business together as a cooperative arrangement, they form what is known as a
9 Best Ways to Start a Business Budget to Spur and Guide Growth
Building a business is a process that requires careful attention to many individual points, all with the goal of increasing customers, improving products, and
When an Employee Should Update Form W-4
Employees are required or are permitted to file an updated Form W-4 (Employee’s Withholding Certificate) in certain circumstances, as discussed more fully in the
SBA Raises Loan Limit For COVID-19 EIDL Loans to $500,000
As U.S. businesses continue to recover from COVID-19’s economic devastation, the U.S. Small Business Administration (SBA) is expanding loan opportunities. The agency announced that
Renting Out a Second Home
In general, income from renting a vacation home for 15 days or longer must be reported on your tax return on Schedule E, Supplemental
IRS Allows 100% Deduction For Certain Food, Beverages
Companies are getting a small break! IRS is temporarily letting businesses take a 100% deduction on food and beverages from restaurants. As you know,
IRS to Automatically Adjust Prior Filed 2020 Returns with Unemployment Income
Article Highlights Prior Filed Returns with Unemployment Income American Rescue Plan’s $10,200 Exclusion IRS Automatic Adjustment Refund Application When an Amended Return Might Be
Manage Your Payroll Tax Obligations
Any company with employees will have payroll tax obligations. Payroll personnel will typically be responsible for managing payroll tax liabilities and for filing the
