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How Much Income Before an S Corporation Makes Sense?

Find out how much you need to earn before you switch to S Corporation and evaluate if the tax savings are worth it.

Deducting Business Meal Expenses Under Today’s Tax Rules

During regular business operations, you probably spend some time and money “wining and dining” current or potential customers, vendors, and employees. What can you deduct on your tax

Seniors: Medicare premiums Could Lower Your Tax Bill

Americans age 65 and older qualify for basic Medicare insurance, but they may need to pay additional premiums to get the level of coverage they desire. The premiums

Divorcing Business Owners Need to Pay Attention to Tax Implications

If you’ve ever gotten a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues can complicate things even more. Your business

Understanding How Taxes Factor Into an M&A Transaction

In recent years, merger and acquisition activity has been very brisk. If you are considering merging with or acquiring another business, it’s important for you to understand how

Make a Deductible IRA Contribution for 2018. It’s Not Too Late!

Do you want to save more for retirement on a tax-favored basis? If so, and if you qualify, you can make a deductible traditional IRA contribution for the

Still Working After Age 70½? You May Not Have to Begin 401(k) Withdrawals

You must generally begin taking withdrawals from a qualified retirement plan, such as a 401(k), no later than April 1 of the year after which you turn age

2019 Q2 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are some of the key tax-related deadlines for businesses and other employers during the second quarter of 2019. Keep in mind this list isn’t all-inclusive, so there

Vehicle-Expense Deduction Ins and Outs for Individual Taxpayers

In addition to businesses being able to deduct vehicle-related expenses, individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce

Will Leasing Equipment or Buying It Be More Tax Efficient for Your Business?

Your decision as to whether you should lease or buy equipment (or other fixed assets) could be affected by recent changes to federal tax laws and accounting rules.

Careful Tax Planning Required for Incentive Stock Options

Incentive stock options (ISOs) are a popular form of compensation for executives and other employees of corporations. ISOs allow you to buy company stock in the future at

Beware the Ides of March — If You Own a Pass-Through Entity

In addition to Julius Caesar Shakespeare’s words also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes.