Tax Archives - Page 27 of 30 - HW&Co. CPAs and Advisors

2020 Q1 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 during the first quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may […]

Holiday parties and gifts can help show your appreciation and provide tax breaks

By: David M. Reape

With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving […]

The tax implications if your business engages in environmental cleanup

By: David M. Reape

If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be deductible on your tax return as ordinary and necessary business expenses. […]

Small businesses: Get ready for your 1099-MISC reporting requirements

By: David M. Reape

A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors, and others. You may have to […]

Small businesses: Stay clear of a severe payroll tax penalty

By: David M. Reape

One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also […]

Taxpayers should beware of property lien scam

By: David M. Reape

With scam artists hard at work all year, taxpayers should watch for new versions of tax-related scams. One such scam involves fake property liens. It threatens taxpayers with a tax […]

Businesses must report unclaimed property

By: David M. Reape

Are you aware that companies doing business in Ohio are required to report unclaimed property from dormant accounts to the Ohio Department of Commerce? Even if the company has no […]

Understanding and controlling the unemployment tax costs of your business

By: David M. Reape

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

Avoid excess benefit transactions and keep your exempt status

By: David M. Reape

One of the worst things that can happen to a not-for-profit organization is to have its tax-exempt status revoked. Among other consequences, the nonprofit may lose credibility with supporters and […]

The chances of an IRS audit are low, but business owners should be prepared

By: David M. Reape

Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In the fiscal year 2018, […]

How to treat your business website costs for tax purposes

By: David M. Reape

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

IRS has begun sending letters to virtual currency owners advising them to pay back taxes and file amended returns

By: David M. Reape

The Internal Revenue Service has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from these transactions or did […]

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