The best choice of entity can affect your business in multiple ways, including the amount of your tax bill. Although S corporations can provide substantial tax benefits over
When it comes to taxes, December 31 is more than just New Year’s Eve. That date will affect the filing status box that will be checked on your
If you’re self-employed and don’t have paycheck withholding, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis.
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2021. This list isn’t all-inclusive, so there may be additional
Are you considering replacing a car you’re using in your business? There are several tax implications you should keep in mind. A cap on deductions Cars are subject
You may be able to deduct some of your medical expenses, including prescription drugs, on your federal tax return. While the rules make it hard for many people
If you own a business, you may be wondering if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through
S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect the business will incur losses in its early years
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for your retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to
Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run afoul of the
As we approach the end of the year, now is a good time to think about whether your business needs to buy business equipment and other depreciable property.
Many employees place funds in their employer’s health or dependent care flexible spending arrangements (FSAs) in order to save taxes. As the end of 2020 nears, here are
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