Business Deductions
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It’s time for your small business to think about year-end tax planning
With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and…
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Working remotely is convenient, but it may have tax consequences
Many employees began working remotely during the pandemic and continue doing so today. Remote work has many advantages for employers and employees, and as a…
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When partners pay expenses related to the business
It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as…
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When businesses may want to take a contrary approach with income and deductions
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise to…
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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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New per diem business travel rates kicked in on October 1
Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into reviewing business…
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