Planning to buy more business vehicles this year? New to this year the Tax Cuts and Jobs Act increased bonus depreciation to 100%. Unlike most tax provisions that involve a tax election, the one requires you to elect out
The EITC is a benefit for working people with low to moderate income. To qualify there are a couple different requirements that must be met such as: -you have earned income and adjusted gross income within certain limits; AND
There were quite of few things that were passed by Congress on December 19th, 2019 and then signed into law by the President on December 20th, 2019.Most changes that occurred are about how you save money for retirement, how the
OPERATING AGREEMENT NEEDED FOR NEW ARIZONA LLC LAW For Decades, Arizona Businesses have chosen to be a Limited Liability Company due to it being a preferable legal entity for construction and other industries. Other than some minuscule changes to Arizona
Of all the business entities someone could form, the S corporation is by far the most misunderstood. This is because the S-Corp is a tax designation rather than an actual business entity. Both limited liability companies (LLCs) and corporations can
With Veterans Day approaching, we wanted to dedicate this month’s blog post to our military men and women. We salute and honor you this month and thank you for your sacrifice. Whether it be sacrificing time with your family, or
Throughout the year life happens and things go unchecked all the time. Especially when it comes to updating your employer about your filing status for taxes when a life event happens. However, understanding what filing status you should be claiming
Starting a new business comes with a lot of responsibility, most of which you handle on your own as a business owner. You wear the hat of every department but you’re still only one person. However, the best way to
Should I hire an accountant for my small business? Whether it is your Etsy shop or your local bakery, an accountant can greatly benefit your business for a multitude of reasons. At BASC Expertise we understand that running your own
If you own a nonprofit organization, it’s imperative that you’re informed on your tax-exempt status and what it means. This is important for the health of your organization, as well as the finances of your dedicated volunteers. If you’re new
