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    Home > Blog > Business Small Business

    Unemployment Taxes for Businesses

    Manage your business’s unemployment taxes

    As a business owner, you must pay three different types of payroll taxes, as shown below. While FICA may be...

    Corporate Transparency Act Small Business Beneficial Ownership (BOI) Reporting Deadline

    FinCEN extends beneficial ownership information reporting deadline by 30 days

    Financial Crimes Enforcement Network (FinCEN) has extended the beneficial ownership information (BOI) reporting deadline by 30 days and announced its...

    New log standard business mileage tax deduction rates for 2024/2025

    2025 mileage rates are here

    The new mileage rates for travel are now set for 2025. The standard business mileage rate increases by 3 cents...

    tax tips for hiring family members in your small business

    Tax planning for your business

    As 2024 winds down, here are some tax tips to help you prepare your business for filing your upcoming tax...

    Changes to Tax Law Provisions for Businesses in 2025

    President Biden’s proposed budget highlights his tax agenda – part one

    In his budget proposal for fiscal year 2025, President Biden includes several tax measures that will impact businesses and corporate...

    Why do I need a tax professional to file a business return

    File a business return on time or pay the price

    March 15th is the tax filing due date for the 2023 calendar year for S corporations and partnerships. This deadline...

    Tech and Biotech Startups

    Giving tech and biotech startups a leg up

    Startups, especially tech and biotech startups, are common these days. Most of these companies do not have enough resources, such...

    2024-2025 Calendar for Tax Return Information and Tips with first quarter estimates taxes

    2024 tax calendar

    To help you make sure you don’t miss any important 2024 deadlines, we’ve provided this calendar of when various tax-related...

    relief program and withdrawal options for scam victim of ERTC claims scams

    The IRS unveils ERTC relief program for employers

    Since July 2023, the IRS has been responding to a "flood of ineligible claims" for the Employee Retention Tax Credit...

    Corporate Transparency Act Small Business Beneficial Ownership (BOI) Reporting Deadline

    Businesses: Do you have to comply with the new corporate transparency reporting rules? Part two

    Reporting companies are now required by the Corporate Transparency Act (CTA) to submit identifying information about their company applicants. A...

    Corporate Transparency Act Small Business Beneficial Ownership (BOI) Reporting Deadline

    Businesses: Do you have to comply with the new corporate transparency reporting rules? Part one

    New reporting conditions may soon be a requirement for your company. These rules, coming from 2021's Corporate Transparency Act (CTA),...

    Why do I need a tax professional to file a business return

    5 strategies to cut your company’s 2023 tax bill

    Even if markets and interest rates are constantly changing as another year draws to a close, one thing is certain....

    Business Year-End Tax Planning to Avoid Common Missing Items When Filing

    Year-end tax planning tips for your business

    As 2023 winds down and we quickly approach year-end, here are some planning ideas to help you prepare for filing...

    relief program and withdrawal options for scam victim of ERTC claims scams

    IRS offers a withdrawal option to businesses that claimed ERTCs

    Some businesses are concerned about the validity of their claims for the Employee Retention Tax Credit (ERTC), a significant but...

    IRS tax return filing requirements to avoid court cases

    Tax court corner: three cases, three great tips

    Here’s a brief summary of three recent tax court cases and some tips you should learn from them. Keep those...

    how to deduct business meals correctly

    Deduct business meals the right way

    Suppose you take your best client to dinner to celebrate your business relationship. Can you deduct any of the cost...

    relief program and withdrawal options for scam victim of ERTC claims scams

    IRS suspends processing of ERTC claims

    The IRS has immediately frozen the processing of new Employee Retention Tax Credit (ERTC) claims. Due to an influx of...

    relief program and withdrawal options for scam victim of ERTC claims scams

    The IRS warns businesses about ERTC scams – part two

    If you fall victim to an ERTC scam, you may be responsible for repaying the credit. In addition, you may...

    relief program and withdrawal options for scam victim of ERTC claims scams

    The IRS warns businesses about ERTC scams – part one

    Nowadays, businesses are allegedly missing out on the lucrative Employee Retention Tax Credit (ERTC). This allegation comes from numerous advertisements...

    Inventory Management for Start-Up Business Expenses and Accounting Methods

    4 ways prioritizing inventory management can help your business

    Mastering inventory levels is a key to many successful and growing businesses. Here are four reasons why prioritizing your inventory...

    President Biden's Proposed Budget for 2024 Includes Business and Individual Tax Provisions

    President Biden’s proposed budget includes notable tax provisions for businesses

    The federal government's planned budget for the fiscal year 2024 has been made public by President Biden. They intend to...

    Business Owner Employee Tax Limits not filing on time for Independent Contractor vs. Employee and retirement plans for small businesses

    Attention businesses: File on time or pay the price

    The deadline for S-corporations and partnerships to file their tax returns for the calendar year is March 15. Although no...

    buy-sell agreements

    Business owners: Now’s the time to revisit buy-sell agreements

    Buy-sell agreements should be a crucial part of your estate and succession plans if you have a stake in a...

    financial distress debt in business

    Tax ramifications can be good or bad

    Few things are as upsetting as not getting paid what you are due. However, if the debt isn't paid, you...

    taking your company public

    Deciding to take your company public?

    An initial public offering (IPO) is a demanding process and a pivotal point for any company. The two most important...

    New log standard business mileage tax deduction rates for 2024/2025

    IRS publishes standard mileage rates for 2023

    In July, your business mileage tax deduction became more valuable for 2022 after an announcement by the IRS. As of July...

    Understanding Taxes 101: Prepare for Tax Day Season with year-end planning and reduction tips and techniques

    Take advantage of your income, expenses, and debts to reduce your business’s 2022 tax bill

    Many businesses have had a turbulent year, and the current economic situation foresees even more uncertainty. However, regardless of your...

    leverage your startup expenses and tax aspects of operating a business

    Leverage your startup expenses and retirement plan to reduce your business’s 2022 tax bill

    Many businesses have had a turbulent year, and the current economic situation foresees even more uncertainty. However, regardless of your...

    accelerate depreciation of taxable income and defer deductions

    Accelerate depreciation to reduce your business’s 2022 tax bill

    Many businesses have had a turbulent year, and the current economic situation foresees even more uncertainty. However, regardless of your...

    Maximize Your QBI Deduction to Reduce Your Business’s 2022 Tax Bill

    Maximize your QBI deduction to reduce your business’s 2022 tax bill

    Many businesses have had a turbulent year, and the current economic situation foresees even more uncertainty. However, regardless of your...

    IRA energy-efficient construction

    Inflation Reduction Act expands deductions for energy-efficient construction – part two

    Mitigating the adverse effects of climate change is one of the primary targets of the recent Inflation Reduction Act (IRA)....

    IRA energy-efficient construction

    Inflation Reduction Act expands deductions for energy-efficient construction – part one

    Mitigating the adverse effects of climate change is one of the primary targets of the recent Inflation Reduction Act (IRA)....

    Take your audit to the next level with management letters

    Management letters: Follow up on your auditor’s recommendations

    In today’s uncertain market, maintaining the status quo might be dangerous. Businesses must “level up” by being proactive and adaptable...

    funding from outside investors

    Businesses looking for outside investors need a sturdy pitch deck

    Is your company prepared to look for outside investors for funding? For example, you might be a start-up needing funding...

    Financial Forecasts and Projections

    Forecasts vs. projections: What’s the big difference?

    Financial statements consider past results. But there are occasions when you need forward-looking reports, like forecasts and projections, to: Support...

    Leveraging internal audits

    Internal audit departments are typical in businesses. They check to see if the company is accurately reporting financial data according...

    The Inflation Reduction Act includes extensive tax provisions – part two

    The Inflation Reduction Act (IRA) has its approval from the U.S. Senate and House of Representatives. The bill should be signed into law...

    The Inflation Reduction Act includes extensive tax provisions – part one

    The Inflation Reduction Act (IRA) has its approval from the U.S. Senate and House of Representatives. The bill should be...

    Tech and Biotech Startups

    CHIPS Act poised to boost U.S. businesses

    The CHIPS and Science Act of 2022, which includes the Creating Helpful Incentives to Produce Semiconductors for America Act, just...

    bonus depreciation bonus

    Businesses must act now to make the most out of bonus depreciation – part two

    The potential business value of bonus depreciation for taxpayers rose significantly with the Tax Cuts and Jobs Act (TCJA), but...

    bonus depreciation bonus

    Businesses must act now to make the most out of bonus depreciation – part one

    There have been different levels of bonus depreciation available for some time. For example, taxpayers could often claim a bonus...

    new business partner

    Tax considerations when adding a new partner at your business

    The business decision to add a new partner has several financial and legal repercussions. Imagine that you and your existing...

    Going Private Versus Public Company

    Going private

    The news media has recently focused on initial public offerings (IPOs) involving special purpose acquisition companies (SPACs). However, amid the...

    accelerate depreciation of taxable income and defer deductions

    Taking the opposite approach: Ways your business can accelerate taxable income and defer deductions

    Businesses typically desire to defer the recording of taxable income to future years while attempting to accelerate deductions in the...

    Payment Apps Have New Tax Form 1099-K Filing Reporting Requirements

    Businesses: Prepare for the lower 1099-K filing threshold

    This year, more workers may fall into the required reporting range of income. Therefore, businesses should be aware that they...

    deduct business meals

    Fully deduct business meals this year

    The federal government is now subsidizing corporate meals. One of the COVID-19 relief laws doubles the typical deduction for 50% of...

    IRS Penalty Relief Notices

    Businesses may receive notices about information returns that don’t match IRS records

    The Internal Revenue Service (IRS) sends notices to corporations, financial institutions, and other taxpayers who filed returns with information that...

    deduct business trip costs

    Can you deduct the costs of a spouse on a business trip?

    If you own a business and often travel for it, you may wonder if you can deduct the costs of...

    Benchmarking and Forecasting with Data Analytics in Financial Statements

    Take your financial statements to the next level

    Spring is the time of year that calendar-year-end businesses issue financial statements and prepare tax returns. This year, take your...

    Tax Deadlines

    2022 Q2 tax calendar: Key deadlines for businesses and other employers

    Is this year’s April 18 filing deadline applicable to your company? What additional tax deadlines are there for businesses and...

    activity-based costing

    The ABCs of activity-based costing

    As reported on your company’s income statement, revenue and expenses have limited usefulness to people inside the organization. Managers often...

    Business Owner Employee Tax Limits not filing on time for Independent Contractor vs. Employee and retirement plans for small businesses

    Numerous tax limits affecting businesses have increased for 2022

    Many tax limits that affect businesses get indexed annually for inflation. However, a number of them have increased for 2022....

    Tip Tax Credit for Food and Beverage Restaurant Business

    Businesses with employees who receive tips may be eligible for a tax credit

    If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for...

    owning a corporate aircraft

    The tax implications of owning a corporate aircraft

    If your business is successful and you do a lot of business travel, you might consider buying a corporate aircraft....

    holiday tax breaks

    Businesses can show appreciation — and gain tax breaks — with holiday gifts and parties

    With Thanksgiving just around the corner, the holiday season will soon be here. Your business may want to show its...

    What business owners should know about stop-loss insurance

    When choosing health care benefits, many businesses opt for a self-insured (self-funded) plan rather than a fully insured one. Why?...

    Get your piece of the depreciation pie now with a cost segregation study

    If your business is depreciating over a 30-year period the entire cost of constructing the building that houses your operation,...

    Tax depreciation rules for business automobiles

    If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The...

    Opening a new location calls for careful planning

    The U.S. economy has been nothing short of a roller-coaster ride for the past year and a half. Some industries...

    Want to find out what IRS auditors know about your business industry?

    In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues...

    IRS issues ERC guidance as Congress mulls early termination

    The IRS has published new guidance on the Employee Retention Credit (ERC). The credit was created in March 2020 to...

    Large cash transactions with your business must be reported to the IRS

    If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to...

    The deductibility of corporate expenses covered by officers or shareholders

    Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These...

    10 facts about the pass-through deduction for qualified business income

    Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax...

    Eligible Businesses: Claim the Employee Retention Tax Credit

    The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue...

    Recordkeeping DOs and DON’Ts for business meal and vehicle expenses

    If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases,...

    Help ensure the IRS doesn’t reclassify independent contractors as employees

    Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers...

    Claiming the business energy credit for using alternative energy

    Are you wondering whether alternative energy technologies can help you manage energy costs in your business? If so, there’s a...

    Accounting for business combinations

    If your company is planning to merge with or buy another business, your attention is probably on conducting due diligence...

    Ensure competitive intelligence efforts are helpful, not harmful

    With so many employees working remotely these days, engaging in competitive intelligence has never been easier. The Internet as a...

    Know the ins and outs of “reasonable compensation” for a corporate business owner

    Owners of incorporated businesses know that there’s a tax advantage to taking money out of a C corporation as compensation...

    Can your business benefit from the enhanced Employee Retention Tax Credit?

    COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are...

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