Business Deductions
-
Small businesses: Cash in on depreciation tax savers
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other…
Read More: Small businesses: Cash in on depreciation tax savers -
The importance of S corporation basis and distribution elections
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses…
Read More: The importance of S corporation basis and distribution elections -
The tax rules for deducting the computer software costs of your business
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale…
Read More: The tax rules for deducting the computer software costs of your business -
Good records are the key to tax deductions and trouble-free IRS audits
If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and expenses.…
Read More: Good records are the key to tax deductions and trouble-free IRS audits -
Business meal deductions: The current rules amid proposed changes
Restaurants and entertainment venues have been hard hit by the novel coronavirus (COVID-19) pandemic. One of the tax breaks that President Trump has proposed to…
Read More: Business meal deductions: The current rules amid proposed changes -
New COVID-19 law makes favorable changes to “qualified improvement property”
The law providing relief due to the coronavirus (COVID-19) pandemic contains a beneficial change in the tax rules for many improvements to interior parts of…
Read More: New COVID-19 law makes favorable changes to “qualified improvement property”
Stay current on weekly blogs by following our social media posts on LinkedIn, Facebook, and Twitter.