Business Deductions
-
Important tax aspects of operating your business as a sole proprietor
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects…
Read More: Important tax aspects of operating your business as a sole proprietor -
Keeping meticulous records is the key to tax deductions and painless IRS audits
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you…
Read More: Keeping meticulous records is the key to tax deductions and painless IRS audits -
Numerous tax limits affecting businesses have increased for 2022
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those…
Read More: Numerous tax limits affecting businesses have increased for 2022 -
Will the standard business mileage rate go up in 2022? Yes!
After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be…
Read More: Will the standard business mileage rate go up in 2022? Yes! -
Small businesses: There still may be time to cut your 2021 taxes
Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to execute a…
Read More: Small businesses: There still may be time to cut your 2021 taxes -
The deductibility of corporate expenses covered by officers or shareholders
Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being…
Read More: The deductibility of corporate expenses covered by officers or shareholders
Stay current on weekly blogs by following our social media posts on LinkedIn, Facebook, and Twitter.