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Scrupulous records and legitimate business expenses are the key to less painful IRS audits
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should…
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A general look at generative AI for businesses
If you follow the news, you’ve probably heard a lot about artificial intelligence (AI) and how it’s slowly and steadily expanding into various aspects of…
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The tax deadline is almost here: File for an extension if you’re not ready
The April 15 tax filing deadline is right around the corner. However, you might not be ready to file. Sometimes, it’s not possible to gather…
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2024 Q2 tax calendar: Key deadlines for businesses and employers
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind that…
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Update on retirement account required minimum distributions
If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax-required minimum distribution (RMD) rules after reaching…
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Coordinating Sec. 179 tax deductions with bonus depreciation
Your business should generally maximize current-year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal:…
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