If you have any company or personal automobiles, SUVs, trucks, or vans that you no longer use, now is the time to take advantage of the year-end corporate tax benefits. First, we’ll take a look at any automobiles you or
This article’s goal is to make the IRS owe you money. Although the IRS is unlikely to send you a check for this money (under the appropriate conditions, though, that will happen), you will realize the cash by paying less
14-Day Home rental strategy is one method we frequently see customers ignore, even though it may result in significant tax savings. How often do you host business events at your home, such as shareholder meetings, team retreats, client meetings, and
When you file your tax return late, three negative consequences occur. You can file your tax return throughout the term of extension; this is not considered a late-filed return. The late-filed return is filed after the previous extension has expired.
The tax-home rule is something you’ll run across a lot as a company taxpayer. We assume it’s a rule you haven’t thought about very much, or maybe a direction you aren’t familiar with. That is a rule you will never
Some withdrawals from a Roth IRA are taxed, despite popular belief. A 10 percent early withdrawal penalty tax can be applied even if there is no income tax due. This is the worst-case scenario. Take a look at the information
Do you have a 401(k), an ESOP, a profit-sharing plan, or any qualifying employer-sponsored retirement plan where you own stock in your company? If not, This means that you should start planning for when you retire or leave your current
The federal government is urging all American employees and their families to be vaccinated against the highly infectious COVID-19 delta form, wreaking havoc across the country. If you have workers, you are most likely experiencing the same feelings. Indeed, as
Here’s an example of a trade-in and the rules associated with it. A three-year-old vehicle was traded in on a new SUV with a gross vehicle weight rating (GVWR) of 6,075 pounds. The dealer granted a trade-in value of $13,000
Limited liability companies (LLCs) are a popular choice of entity for small businesses and investment activities. LLC owners are called members. Single-member LLCs have one owner, although spouses who jointly own an LLC in a community property state can elect
