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Job Costing for Plumbers
S-corp election for HVAC business owners: file Form 2553 in September for a January 1 start, set payroll and salary in the slow season, and skip the March scramble.
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The Right Entity Choice: Should You Convert From a C to an S corporation?

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

Your-taxpayer-filing-status

Your Taxpayer Filing Status: You May Be Eligible to Use More Than One

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

next-estimated-tax-deadline-is-January-15

The Next Estimated Tax Deadline is January 15 If You Have to Make a Payment

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.

2021-q1-tax-calendar-business

2021 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

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

Heavy SUV Tax Break

Drive More Savings to Your Business with the Heavy SUV Tax Break

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

Medical Expense Tax Deduction

Can You Qualify for a Medical Expense Tax Deduction?

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

2019-business-tax-return

The QBI Deduction Basics and a Year-End Tax Tip That Might Help You Qualify

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

business-owners-may-be-able-to-reduce-tax-by-using-an-S-corporation

The Importance of S Corporation Basis and Distribution Elections

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

Using-your-401k-plan-to-save

Maximize Your 401(k) Plan to Save for Retirement

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

wash-sale-rule

Steer Clear of the Wash Sale Rule If You’re Selling Stock by Year End

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

Section-179-depreciation

Small Businesses: Cash In On Depreciation Tax Savers

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.

FSA-funds

Employees: Don’t Forget About Your FSA Funds

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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