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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.
educator expense deductions

The ABCs of the Tax Deduction for Educator Expenses

When it’s time to go back to school, much of the focus is on the students returning to the classroom — and on their parents buying them school

employee meal deductions

Larger Deduction Might Be Available to Businesses Providing Meals to Their Employees

When businesses provide meals to their employees, generally their deduction is limited to 50%. But there are exceptions to the rule. One is if the meal qualifies as

recharacterize-roth-ira

Yes, You Can Undo a Roth IRA Conversion

Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional

detemine-if-you-need-to-worry-about-estate-taxes

How to Determine If You Need to Worry About Estate Taxes

Among the taxes being considered for repeal as part of tax reform legislation is the estate tax. This tax applies to transfers of wealth at death, hence why

reverse-audit-to-save-sales-and-use-tax

Put Your Audit in Reverse to Save Sales and Use Tax

It’s a good bet your state tax authorities will let you know if you haven’t paid enough sales and use taxes, but what are the odds that you’ll

expired-tax-breaks

Will Congress Revive Expired Tax Breaks?

Most of the talk about possible tax legislation this year has focused on either wide-sweeping tax reform or taxes that are part of the Affordable Care Act. But

llc-llp-losses

Material Participation Key to Deducting LLC and LLP Losses

If your business is a limited liability company (LLC) or a limited liability partnership (LLP), you know these structures offer liability protection and flexibility as well as tax

aca-tax-penalty-on-individuals

A Refresher on the ACA’s Tax Penalty on Individuals Without Health Insurance

Now that Affordable Care Act (ACA) repeal and replacement efforts appear to have collapsed, at least for the time being, it’s a good time for a refresher on

cutting-unemployment-taxes

6 Ways to Control Your Unemployment Tax Costs

Unemployment tax rates for employers vary from state to state. Your unemployment tax bill may be influenced by several factors. These could include the number of former employees

3-midyear-tax-planning-strategies-for-individuals

3 Midyear Tax Planning Strategies for Individuals

In the quest to reduce your tax bill, year-end planning can only go so far because tax-saving strategies take time to implement. Here are three strategies that can

ESOPs-offer-businesses-tax-and-other-benefits

ESOPs Offer Businesses Tax and Other Benefits

With an employee stock ownership plan (ESOP), employee participants take part ownership of the business through a retirement savings arrangement. With this type of plan the business and

taxes on nonqualified stock options

Nonqualified Stock Options Demand Tax Planning Attention

Your compensation may take several forms, including salary, fringe benefits and bonuses. If you work for a corporation, you might also receive stock-based compensation, such as stock options.

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