The Tax Advantages of Hiring Your Child This Summer
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra […]
Category: Tax
IRS Dirty Dozen Part 4 – Advice on Social Media, Spearphishing, and OIC Mills
Today, we continue bringing you the scams highlighted by IRS’s 2023 Dirty Dozen campaign, an annual list compiled by the IRS listing the most common tax schemes and providing taxpayers […]
IRS Dirty Dozen Part 3 – False Fuel Tax Credit Claims, Fake Charities, and Deceitful Tax Preparers
Last week, we introduced you to the IRS’s 2023 Dirty Dozen campaign, an annual list compiled by the IRS noting the most common tax schemes. The campaign provides taxpayers with […]
IRS Dirty Dozen Part 2 – Phishing, Smishing, and Fake Assistance with Online Accounts
Earlier this week, we presented the first installment of the 2023 IRS Dirty Dozen: ERC promotions. Here are two more prevalent scams from the campaign’s list for which taxpayers should […]
2023 Q2 Tax Calendar: Key Deadlines for Businesses and Employers
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. Keep in mind that this list isn’t all-inclusive, so […]
IRS Dirty Dozen Part 1 – 2023 Campaign Kicks Off by Warning About ERC Schemes
For over 20 years, the IRS has published the “Dirty Dozen,” an annual list of prevalent tax scams and potentially abusive tax avoidance arrangements that put taxpayers at risk of […]
Changes in Sec. 174 make it a good time to review your business’s R&E strategy
It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the law have expired […]
Protect the “Ordinary and Necessary” Advertising Expenses of Your Business
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut their […]
Buying a New Business Vehicle? A Heavy SUV Is a Tax-Smart Choice
If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this year than you’d […]
Do You Run a Business From Home? You May Be Able to Deduct Home Office Expenses
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re […]
Key Tax Issues in M&A Transactions
Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value of M&A transactions in North America in 2022 was down […]
Many Tax Limits Affecting Businesses Have Increased for 2023
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be […]
