David Reape CPA Archives - Page 11 of 19 - HW&Co. CPAs and Advisors

New Per Diem Business Travel Rates Became Effective on October 1

By: David M. Reape

Are employees at your business traveling again after months of virtual meetings? In Notice 2021-52, the IRS announced the fiscal 2022 “per diem” travel rates that became effective October 1, […]

2021 Q4 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 fourth quarter (Q4) of 2021. Keep in mind that this list isn’t all-inclusive, so there […]

M&A transactions: Be careful when reporting to the IRS

By: David M. Reape

Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports […]

Tax breaks to consider during National Small Business Week

By: David M. Reape

3 Tax Breaks The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to […]

Claiming a theft loss deduction if your business is the victim of embezzlement

By: David M. Reape

A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have […]

Want to find out what IRS auditors know about your business industry?

By: David M. Reape

In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer’s return. Examiners may use IRS “Audit Techniques […]

Large cash transactions with your business must be reported to the IRS

By: David M. Reape

If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What are the requirements? Each person who, in […]

Is an LLC the right choice for your small business?

By: David M. Reape

Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new […]

The deductibility of corporate expenses covered by officers or shareholders

By: David M. Reape

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer […]

How start-up expenses are handled on your tax return

By: David M. Reape

Entrepreneurs often don’t know that many of the start-up expenses incurred can’t be currently deducted. You should be aware that the way you handle some of your initial expenses can […]

Can my small business can be hit with the “Trust Fund Recovery Penalty?”

By: David M. Reape

There’s a harsh tax penalty that you could be at risk for paying personally if you own or manage a business with employees. It’s called the “Trust Fund Recovery Penalty” […]

Traveling for business again? What can you deduct?

By: David M. Reape

As we continue to come out of the COVID-19 pandemic, you may be traveling again for business. Under tax law, there are a number of rules for deducting the cost […]

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