Adam’s Tax Blog

Note: Tax advice, articles, and content contained on this site are intended for informational and educational purposes only. They are not a substitute for professional advice. Tax matters are can be extremely complex and vary greatly for each individual or company. Please click here to read our complete disclosure and disclaimer for the information presented on this site.

Tax Advantages of Hiring Your Child at Your Small Business

Tax Advantages of Hiring Your Child at Your Small Business

As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Here are some considerations. Shifting business earnings You can turn some of your high-taxed income into tax-free or low-taxed income by...

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Need a New Business Vehicle? Consider a Heavy SUV

Need a New Business Vehicle? Consider a Heavy SUV

Are you considering buying or replacing a vehicle to use in your business? If you choose a heavy sport utility vehicle (SUV), you may be able to benefit from lucrative tax rules for those vehicles. Bonus depreciation Under current law, 100% first-year bonus...

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New Law Tax Break May Make Child Care Less Expensive

New Law Tax Break May Make Child Care Less Expensive

The new American Rescue Plan Act (ARPA) provides eligible families with an enhanced child and dependent care credit for 2021. This is the credit available for expenses a taxpayer pays for the care of qualifying children under the age of 13 so the taxpayer can be...

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Business Highlights in the New American Rescue Plan Act

Business Highlights in the New American Rescue Plan Act

President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for providing relief to individuals, it also contains several tax breaks and financial benefits for businesses. Here are some of the tax highlights of...

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