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Traveling For Business In 2024? What’s Deductible?
Feb 2024
If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain requirements for out-of-town…
Sec. 179 Expensing And Bonus Depreciation: Beware Of Pitfalls
Jan 2024
If eligible, you can elect to use Section 179 expensing or bonus depreciation to deduct a large portion of the cost (and in some cases the full cost)…
Use The Tax Code To Make Business Losses Less Painful
Dec 2023
Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses…
How To Be Ready To Secure A Business Bad Debt Deduction On Your 2023 Tax Return
Nov 2023
Is your business having trouble collecting payments from clients or vendors? You might be able to claim a bad debt deduction on your tax return. But if you…
Do You Run A Business From Home?
Nov 2023
The pandemic changed the landscape of work for a lot of people, including the numerous business owners who began running their businesses from their homes. Many are still…
An “Innocent Spouse” May Be Able To Escape Tax Liability
Sep 2023
When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax on the couple’s combined income. That…
Determining The Right Time To Transfer Wealth To Your Heirs
Aug 2023
To gift or not to gift? It’s a deceptively complex question. The temporary doubling of the gift and estate tax exemption (to an inflation-adjusted $12.92 million in 2023)…
Family Businesses Must Beware of Fraud
Jul 2023
Family businesses make up a huge percentage of companies in the United States and produce much of the country’s gross domestic product. Often defined as companies that are…