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ConnollySteele
Dec 5, 20222 min read
Choosing a business entity? Here are the pros and cons of a C corporation
If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the...
ConnollySteele
Nov 21, 20222 min read
Is your business closing? Here are your final tax responsibilities
Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration,...
ConnollySteele
Sep 26, 20222 min read
Work Opportunity Tax Credit provides help to employers
In today’s tough job market and economy, the Work Opportunity Tax Credit (WOTC) may help employers. Many business owners are hiring and...
ConnollySteele
Sep 19, 20221 min read
2022 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind...
ConnollySteele
Sep 12, 20223 min read
Separating your business from its real estate
Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the...
ConnollySteele
Aug 15, 20222 min read
Why an LLC might be the best choice of entity for your business
The business entity you choose can affect your taxes, your personal liability and other issues. A limited liability company (LLC) is...
ConnollySteele
Aug 8, 20222 min read
Is your business required to report employee health coverage?
As you’re aware, certain employers are required to report information related to their employees’ health coverage. Does your business...
ConnollySteele
Aug 1, 20223 min read
How to treat business website costs for tax purposes
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted....
ConnollySteele
Jul 27, 20222 min read
Three tax breaks for small businesses
Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger...
ConnollySteele
Jul 13, 20222 min read
Interested in an EV? How to qualify for a powerful tax credit
Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources....
ConnollySteele
Jul 11, 20222 min read
The tax obligations if your business closes its doors
Sadly, many businesses have been forced to shut down recently due to the pandemic and the economy. If this is your situation, we can...
ConnollySteele
Jul 6, 20223 min read
How do taxes factor into an M&A transaction?
Although merger and acquisition activity has been down in 2022, according to various reports, there are still companies being bought and...
ConnollySteele
Jul 5, 20223 min read
How disability income benefits are taxed
If you’ve recently begun receiving disability income, you may wonder how it’s taxed. The answer is: It depends. The key issue is: Who...
ConnollySteele
Jun 28, 20223 min read
Vehicle expenses: Can individual taxpayers deduct them?
It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also can deduct them in certain...
ConnollySteele
Jun 27, 20221 min read
2022 Q3 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind...
ConnollySteele
Jun 22, 20222 min read
Businesses will soon be able to deduct more under the standard mileage rate
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide...
ConnollySteele
Jun 13, 20223 min read
Is your corporation eligible for the dividends-received deduction?
There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed...
ConnollySteele
Jun 6, 20222 min read
Help when needed: Apply the research credit against payroll taxes
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits,...
ConnollySteele
May 31, 20222 min read
Calculating corporate estimated tax
The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for...
ConnollySteele
May 25, 20220 min read
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