Small Business – Page 14

Potential Tax Advantages of Hiring Your Child This Summer

April 24, 2023

Thinking about hiring your high school or college-age child to work in your business? You could reap significant tax benefits.

Why Quality Bookkeeping Matters

April 21, 2023

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.

Roundup of Individual Tax Changes For 2023

April 17, 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.

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

April 14, 2023

How does a business know if advertising and marketing expenses are deemed “ordinary and necessary” to qualify as deductible on their tax return?

Important Considerations When Engaging in a Like-Kind Exchange

April 12, 2023

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.

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

March 24, 2023

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.

Many Taxpayers Could See Smaller Tax Refunds This Year

March 22, 2023

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

Buying a New Business Vehicle? A Heavy SUV Is a Tax-Smart Choice

March 13, 2023

Buying or replacing a vehicle that you’ll use in your business? A heavy SUV may provide a more generous tax break this year than a smaller vehicle.