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Assessing-the-S-corp

Assessing the S Corp

The S corporation business structure offers several advantages. These include limited liability for owners and no double taxation (at least at the federal level). But not all businesses

Keep an Eye Out for Extenders Legislation

Keep an Eye Out for Extenders Legislation

The tax legislation getting the most attention these days is the Tax Cuts and Jobs Act (TCJA) signed into law last December, as well as the possible “Tax

Choosing the Right Accounting Method for Tax Purposes

Choosing the Right Accounting Method for Tax Purposes

The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this method — which is simpler than the accrual

TCJA-prohibits-undoing-2018-Roth-IRA-conversions

The TCJA Prohibits Undoing 2018 Roth IRA Conversions, But 2017 Conversions Are Still Eligible

Converting a traditional IRA to a Roth IRA can provide you with tax-free growth and tax-free withdrawals in retirement. But what if you convert your traditional IRA —

Do You Still Need to Worry About the AMT?

Do You Still Need to Worry About the AMT?

There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation. However, the repeal wasn’t included in the final version

Can-you-deduct-home-office-expenses

Do You Qualify for the Home Office Deduction?

Under the Tax Cuts and Jobs Act (TCJA), employees can no longer claim the home office deduction. However, if you run a business from your home or are

kiddie-tax-tcja

Why the “Kiddie Tax” Is More Dangerous Than Ever

Once upon a time, some parents and grandparents would attempt to save tax by putting investments in the names of their young children or grandchildren in lower income

business-deductions-for-meals-and-travel

Business Deductions for Meal, Vehicle and Travel Expenses: Document, Document, Document

Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t document these expenses properly, you could find your deductions denied by the IRS. A

What-you-can-deduct-when-volunteering

What You Can Deduct When Volunteering

Because cash or property donations to charity generally are tax deductible (if you itemize), it only seems logical that the donation of something even more valuable to you

How-to-avoid-getting-hit-with-payroll-tax-penalties

How to Avoid Getting Hit With Payroll Tax Penalties

Managing payroll can be one of the most arduous tasks for small businesses. Adjusting income tax withholding based on the new tables issued by the IRS earlier this

QBI-deductions-wage-limit

Close-Up On the New QBI Deduction’s Wage Limit

The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to non-corporate owners of pass-through entities: a deduction for a portion of qualified business income

Save-tax-by-saving-energy

Home Green Home: Save Tax by Saving Energy

“Going green” at home — whether it’s your principal residence or a second home — can reduce your tax bill in along with your energy bill, all while

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