Small Business Tax Tips
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Divorcing business owners should pay attention to the tax consequences
If you’re getting a divorce, you know the process is generally filled with stress. But if you’re a business owner, tax issues can complicate matters…
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The tax consequences of employer-provided life insurance
If your employer provides life insurance, you probably find it to be a desirable fringe benefit. However, if group term life insurance is part of…
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The advantages of using an LLC for your small business
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets.…
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Corporate officers or shareholders: How should you treat expenses paid personally?
If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up…
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The Trust Fund Recovery Penalty: Who can it be personally assessed against?
If you own or manage a business with employees, there’s a harsh tax penalty that you could be at risk for paying personally. The Trust…
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Hiring family members can offer tax advantages (but be careful)
Summertime can mean hiring time for many types of businesses. With legions of working-age kids and college students out of school, and some spouses of…
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