Recordkeeping
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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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The “nanny tax” must be paid for nannies and other household workers
You may have heard of the “nanny tax.” But if you don’t employ a nanny, you may think it doesn’t apply to you. Check again.…
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A company car is a valuable perk but don’t forget about taxes
One of the most appreciated fringe benefits for owners and employees of small businesses is the use of a company car. This perk results in…
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What types of expenses can’t be written off by your business?
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically…
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Selling your home for a big profit? Here are the tax rules
Many homeowners across the country have seen their home values increase in recent years. According to the National Association of Realtors, the median price of…
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Starting a business? How expenses will be treated on your tax return
Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports that business…
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