income tax | Connolly Steele

ConnollySteele

Sep 7, 20222 min read

Is your income high enough to owe two extra taxes?

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and...

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

May 23, 20222 min read

Partners may have to report more income on tax returns than they receive in cash

Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more...

ConnollySteele

Mar 21, 20222 min read

Taking the opposite approach: Ways your business can accelerate taxable income and defer deductions

Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But...

ConnollySteele

Nov 15, 20213 min read

Many factors are involved when choosing a business entity

Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will...

1010 ohio river boulevard pittsburgh, pa 15202 | 412.761.9180