Tax Rules for Deducting the Computer Software Costs of Your Business

Tax Rules for Deducting the Computer Software Costs of Your Business

Do you buy, lease, or develop computer software to use in your business? Know the complex rules that apply to the tax treatment of software costs.
What Is “Transparency” of Health Care Coverage?

What Is “Transparency” of Health Care Coverage?

Many employers pride themselves on transparency about how and with whom they do business. "Transparency,” however, also applies to group health care plans.
IRS Releases Final Version of Form 941-X Related to COVID-19 Relief

IRS Releases Final Version of Form 941-X Related to COVID-19 Relief

The IRS significantly revised Form 941-X. This form allows for adjustments and corrections to COVID-19 tax relief on previously filed Forms 941
Employee Holiday Gifts May Be Taxable--What Employers Need to Know

Employee Holiday Gifts May Be Taxable--What Employers Need to Know

Employers often give employees holiday gifts. If a gift is a de minimis fringe benefit, it is tax-free to employees and tax deductible by the employer.
COLAs Are Out for 2021’s Popular Fringe Benefits

COLAs Are Out for 2021’s Popular Fringe Benefits

The IRS released 2021 cost-of-living adjustments (COLAs) for a variety of tax-related limits. These include those related to many popular fringe benefits.
Preparing for 2021: Tax Planning Strategies for Small Business Owners

Preparing for 2021: Tax Planning Strategies for Small Business Owners

If you are a small business owner, every penny counts. So, you not only want to optimize your revenue but also minimize your expenses and your tax liability
Business website costs: How to handle them for tax purposes

Business website costs: How to handle them for tax purposes

The business use of websites is widespread. However, the IRS hasn’t yet issued formal guidance on when Internet business website costs can be deducted.
How to Report COVID-19-related Troubled Debt Restructurings (TDRs)

How to Report COVID-19-related Troubled Debt Restructurings (TDRs)

Banks are working with borrowers on loan modifications. Recent guidance confirms that short-term changes due to COVID-19 won’t be subject to rules for TDRs.