How to Defer Tax with a Like-Kind Exchange

How to Defer Tax with a Like-Kind Exchange

One way to defer a tax bill on the gain is with a Section 1031 “like-kind” exchange. A like-kind exchange doesn't sell the property, it exchanges it.
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Cost Segregation Study: Get Your Piece of the Depreciation Pie Now

Cost Segregation Study: Get Your Piece of the Depreciation Pie Now

Is your business depreciating over a 30-year period the cost of constructing the building housing your operation? Then consider a cost segregation study.
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Businesses with Employees Receiving Tips May Be Eligible for Tax Credit

Businesses with Employees Receiving Tips May Be Eligible for Tax Credit

Are you an employer with a business where tipping is customary for providing food and beverages? Then you may qualify for a federal tax credit.
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IRS Issue Snapshot: Combination Retirement Plan Deduction Limits

IRS Issue Snapshot: Combination Retirement Plan Deduction Limits

What is a combination retirement plan? It occurs when an employer provides both a defined contribution (DC) and defined benefit (DB) retirement plan.
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Does Your Business Need to File Forms 1099-NEC or 1099-MISC?

Does Your Business Need to File Forms 1099-NEC or 1099-MISC?

Do you use independent contractors for your business? Have you paid $600+ to each one for the year? You must issue the worker and the IRS a Form 1099-NEC.
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Retroactive Termination of the Employee Retention Credit

Retroactive Termination of the Employee Retention Credit

Did you claim the employee retention credit in the Q4 2021? Congress has adopted a retroactive change affecting the ERC for the Q4 2021.
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The Standard Business Mileage Rate Increased for 2022!

The Standard Business Mileage Rate Increased for 2022!

The standard business mileage rate went up! The rate used to calculate the deductible cost of operating an automobile for business grew by 2.5 cents/mile.
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Many Factors Are Involved When Choosing a Business Entity

Many Factors Are Involved When Choosing a Business Entity

Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for you.
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