Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), businesses were able to claim a tax deduction for most business-related...

Are you starting a business with partners and deciding on the right entity? An S corporation might be the best choice for your new...

When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next...

Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and...

For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual...

Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld...

With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to...

Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from...

Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United...

Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides...

With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year...

Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal...

The next quarterly estimated tax payment deadline is June 17 for individuals and businesses, so it’s a good time to review the rules for...

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are...

There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and...

Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more...

After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a...

Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are...

It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service...

Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But...