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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.
IRA-charitable-donations

IRA Charitable Donations Are an Alternative to Taxable Required Distributions

Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older (and don’t need the money from required minimum

converting-from-a-C-corporation-to-an-S-corporation

Thinking About Converting From a C Corporation to an S Corporation?

Choosing the right entity can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial tax advantages over C corporations

Selling-securities-by-year-end

Selling Securities by Year End? Avoid the Wash Sale Rule

If you’re planning to sell assets at a loss to offset gains realized during the year, it’s important to be aware of the “wash sale” rule. How the

Accelerate-depreciation

Accelerate Depreciation Deductions with a Cost Segregation Study

Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you should consider a cost segregation study.

Coverdell-ESA

Use a Coverdell ESA to Help Pay College, Elementary, and Secondary School Costs

One way to save for your child’s or grandchild’s education is with a Coverdell Education Savings Account (ESA). Although for federal tax purposes there’s no upfront deduction for

Health-Savings-Account-for-your-small-business

Setting up a Health Savings Account for Your Small Business

With the escalating cost of employee health care benefits, your business might be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). HSAs

tax-related-scams

Watch Out for Tax-Related Scams

According to the IRS, thousands of people have lost millions of dollars and their personal information to tax scams. Criminals have been known to contact victims through regular

unemployment-tax-costs

Understanding and Controlling the Unemployment Tax Costs of Your Business

As an employer, you must pay federal unemployment tax (FUTA) on amounts up to $7,000 paid to each employee as wages during the calendar year. The tax rate

gift-tax-exclusion-rules

Take Advantage of the Gift Tax Exclusion Rules

As we head toward the holiday season, you may be considering giving gifts of cash or securities to loved ones. Taxpayers can transfer substantial amounts free of gift

chances-of-an-IRS-audit

The Chances of an IRS Audit are Low, but Business Owners Should Be Prepared

If you’re like most business owners you’re asking: How can I avoid an IRS audit? The good news is the odds against being audited are in your favor.

Series-EE-savings-bonds

When Is Tax Due on Series EE Savings Bonds?

You may have Series EE savings bonds that were bought several years ago. If so, you probably store them in a file cabinet or safe deposit box and

business-website-costs

How to Treat Your Business Website Costs for Tax Purposes

These days, it’s an easy decision to set up and maintain a website because most businesses need a one to remain competitive. But determining the proper tax treatment

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