Why Quality Bookkeeping Matters cover

Why Quality Bookkeeping Matters

If you made a list of all the things that most business owners hate, bookkeeping is at the top. But don't underestimate the power of great bookkeeping.
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Roundup of Individual Tax Changes For 2023 cover

Roundup of Individual Tax Changes For 2023

Two recent pieces of tax legislation have created several tax changes for 2023. The legislation includes the Inflation Reduction Act and the Secure 2.0 Act.
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Protect the “Ordinary and Necessary” Advertising Expenses of Your Business cover

Protect the “Ordinary and Necessary” Advertising Expenses of Your Business

How does a business know if advertising and marketing expenses are deemed “ordinary and necessary” to qualify as deductible on their tax return?
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Important Considerations When Engaging in a Like-Kind Exchange cover

Important Considerations When Engaging in a Like-Kind Exchange

How can a business or individual dispose of appreciated real property without taxation on the gain? You can do this through a like-kind exchange.
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What You Need to Know About Converting an S Corp to a C Corp cover

What You Need to Know About Converting an S Corp to a C Corp

Converting from an S Corp to a C Corp is possible. However, it's a process that requires you to keep a few key things in mind along the way.
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S Corp Stockholders Must Take Reasonable Compensation cover

S Corp Stockholders Must Take Reasonable Compensation

S corporation compensation is often misunderstood and abused. If stockholders work in the business, they must take reasonable compensation as wages.
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Changes in Section 174 Mean You Should Review Your R&E Strategy cover

Changes in Section 174 Mean You Should Review Your R&E Strategy

Several provisions in the TCJA have expired or will expire in the next few years. Last year was the end of current deductibility for R&E expenses.
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Many Taxpayers Could See Smaller Tax Refunds This Year cover

Many Taxpayers Could See Smaller Tax Refunds This Year

COVID pandemic-related benefits have come to an end. These decreases in federal tax benefits will mean smaller 2022 tax refunds for taxpayers..
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