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Handshake While Dissolving a Partnership

Dissolving a Partnership: Tax Ramifications

Dissolving a Partnership: Tax Ramifications When you and one or more co-owners decide to terminate a business or investment partnership, federal income tax consequences will invariably ensue. This article elucidates...
Documents and Papers on Desk

Shutting Down a Sole Proprietorship

As a sole proprietor, closing your business requires more than simply locking up. Dissolving a sole proprietorship means careful planning to meet all legal and financial needs. Avoid lawsuits and penalties by following the...
Creating Tax-Free Fringe Benefit Deductions For Your Smartphone

Creating Tax-Free Fringe Benefit Deductions for Your Smartphone

Creating Tax-Free Fringe Benefit Deductions for Your Smartphone In today's digital age, smartphones have become essential tools for business communication. For small business owners, optimizing the financial benefits of smartphone...
Healthcare Sharing Ministries Picture

A Comprehensive Guide to Health Care Sharing Ministries

A Comprehensive Guide to Health Care Sharing Ministries As we take a closer look at healthcare options, there’s one model many people know very little about. Health care sharing ministries...
Buying vs. Leasing Vehicles For Business

Driving Business Success: Navigating the Choice Between Buying and Leasing Vehicles

Choosing whether to buy or lease a business vehicle is a crucial decision that can significantly impact your company's financial health. Both options come with their own set of advantages...
Secure Act 2.0 - What you need to know

Bridging the Gap Between SECURE Act and SECURE Act 2.0: What You Need to Know

Bridging the Gap Between SECURE Act and SECURE Act 2.0: What You Need to Know Legislative changes play a significant part in determining the financial future of millions of Americans,...

2023 Last-Minute Year-End General Business Income Tax Deductions

2023 Last-Minute Year-End General Business Income Tax Deductions There’s nothing better than getting a tax refund from the IRS when tax season comes. Of course, there are many moving parts...

Processing New ERC Claims? What You Must Know About the IRS ERC Mess

The Employee Retention Credit (ERC) was an important tax credit available to specific employers. The program ended at the end of 2021, but employers can still claim it by filing...
Depreciation - What you need to know

Depreciation: From Beginning to Middle to End

If you have assets in business or rentals, depreciation is an essential concept to understand. However, it can be confusing for those who aren’t tax experts because of all the...