Inflation Reduction Act expands valuable R&D payroll tax credit – part two

Most news coverage surrounding the recently signed Inflation Reduction Act (IRA) focused on its health care and climate change sections....

Inflation Reduction Act expands valuable R&D payroll tax credit – part one

Most news coverage surrounding the recently signed Inflation Reduction Act (IRA) focused on its health care and climate change sections....

Does your business barter? Here are some facts you should know

Many small businesses are cash-strapped in the current economy. Instead of paying cash, they can find it advantageous to barter...

Deciding between cash and accrual accounting methods

Small businesses typically begin with the cash-basis accounting technique. However, many eventually switch to accrual-basis reporting to comply with U.S....

The tax mechanics involved in the sale of trade or business property

What tax consequences result from selling a piece of the property employed in your trade or business? A variety of...

Tax issues to assess when converting from a C corporation to an S corporation

In the correct situations, operating as an S company may assist small firms in lowering federal employment taxes. However, before...

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...