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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...
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...
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...
Corporate Advances

Corporate Advances to the Owner: Loans, Dividends, or Salary?

Understanding the finances of owning a business is critical to your success, as well as your avoidance of serious issues with the IRS. Such is the case with corporate advances....
Small Business S-Corp Mistakes To Avoid

A Family Member S Corporation Health Insurance Mistake You Need to Avoid

If you own an S corporation, you know you are required to follow certain rules and regulations. However, there can be some confusion over certain aspects. Below, we’ll be discussing...
1099 Requirements For Businesses

1099 Requirements for Businesses: What You Need to Know

The Internal Revenue Service (IRS) requires a business to complete and distribute 1099 forms to payees and the federal and state taxing authorities. The 1099 form allows businesses to report...