David Reape CPA Archives - Page 5 of 19 - HW&Co. CPAs and Advisors

Advantages and Disadvantages of Claiming Big First-Year Real Estate Depreciation Deductions

By: David M. Reape

Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should you? It’s not as […]

Traveling for Business This Summer? Here’s What You Can Deduct

By: David M. Reape

If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in order to claim deductions, you […]

Keep These DOs and DON’Ts in Mind When Deducting Business Meal and Vehicle Expenses

By: David M. Reape

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months […]

The IRS Has Just Announced 2024 Amounts for Health Savings Accounts

By: David M. Reape

The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA Fundamentals An HSA is a trust created or organized exclusively for the purpose of […]

If You’re Hiring Independent Contractors, Make Sure They’re Properly Handled

By: David M. Reape

Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures. If you’re among them, be careful that these […]

Use the Tax Code to Make Business Losses Less Painful

By: David M. Reape

Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset […]

Education Benefits Help Attract, Retain and Motivate Employees

By: David M. Reape

One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial assistance from their employers. One way to attract, […]

4 Ways Corporate Business Owners Can Help Ensure Their Compensation Is “Reasonable”

By: David M. Reape

If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: […]

2023 Q2 Tax Calendar: Key Deadlines for Businesses and Employers

By: David M. Reape

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 […]

Changes in Sec. 174 make it a good time to review your business’s R&E strategy

By: David M. Reape

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

By: David M. Reape

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

By: David M. Reape

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 […]

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