Tax Archives - Page 12 of 30 - HW&Co. CPAs and Advisors

It’s an Important Distinction – Are You Participating in a Hobby or Running a Business?

Is your hobby actually a business? While it may sound like semantics, the IRS notes that it’s an important distinction when it comes to taxes. Moreover, some hobbies should actually […]

Even if you close your business, you may still have tax obligations

By: David M. Reape

Many businesses were forced to shut down recently due to the pandemic and the economy. A business must file a final income tax return and some other related forms for […]

How do Taxes Factor Into an M&A Transaction?

By: David M. Reape

Although merger and acquisition activity has been down in 2022, according to various reports, there are still companies being bought and sold. If your business is considering merging with or […]

2022 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers

By: David M. Reape

Here are some of the key tax-related deadlines affecting businesses and other employers on the 2022 third-quarter tax calendar. Keep in mind that this list isn’t all-inclusive, so there may […]

IRS Dirty Dozen Part 6 – Abusive Easements & Insurance Arrangements

These last two schemes wrap up the IRS’ Dirty Dozen – its annual list of top tax scams. Don’t be fooled by abusive easements and insurance arrangements. 11: Abusive Syndicated […]

Businesses Will Be Able to Deduct More Under the Standard Mileage Rate

By: David M. Reape

Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas […]

IRS Dirty Dozen Part 5 – Concealing Assets & Failure to File Tax Returns

In this article, we present two more scams from the IRS’ 2022 Dirty Dozen list. These involve tax evasion. Read on so you don’t fall victim to these schemes. 9: […]

IRS Dirty Dozen Part 4 – Suspicious Communication & Spear Phishing Scams

Here are two more prevalent pandemic-era scams from the IRS Dirty Dozen list that take advantage of the turmoil caused by COVID: suspicious communications and spear phishing. Remember to share […]

Is Your Corporation Eligible for the Dividends-Received Deduction?

By: David M. Reape

There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends […]

IRS Dirty Dozen Part 3 – Tax Refund Scams & Unemployment Fraud

Today, we present the next two scams from the 2022 IRS Dirty Dozen – its annual list of top tax scams. These next two schemes have been on the rise […]

IRS Dirty Dozen Part 2 – Captive Insurance & Installment Sales Scams

Last time, we introduced you to the first two scams from the IRS Dirty Dozen – its annual list of top tax scams fraudsters are utilizing to rob unsuspecting victims […]

Help When Needed: Apply the Research Credit Against Payroll Taxes

By: David M. Reape

Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some […]

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