David Reape CPA Archives - Page 6 of 19 - HW&Co. CPAs and Advisors

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 […]

Do You Run a Business From Home? You May Be Able to Deduct Home Office Expenses

By: David M. Reape

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 […]

Have Employees Who Receive Tips? Here Are the Tax Implications

By: David M. Reape

Many businesses in certain industries employ individuals who receive tips as part of their compensation. These businesses include restaurants, hotels and salons. Tip Definition Tips are optional payments that customers […]

Many Tax Limits Affecting Businesses Have Increased for 2023

By: David M. Reape

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 […]

Forms W-2 and 1099-NEC Are Due To Be Filed Soon

By: David M. Reape

With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers is even closer. By January 31, 2023, employers must […]

The Standard Business Mileage Rate is Going Up in 2023

By: David M. Reape

Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an […]

2023 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 2023. Keep in mind that this list isn’t all-inclusive, so there may […]

Do You Qualify for the QBI Deduction? And Can You Do Anything by Year-End to Help Qualify?

By: David M. Reape

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the […]

Choosing a Business Entity? Here Are the Pros and Cons of a C Corporation

By: David M. Reape

If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing business […]

Intangible Assets: How Must the Costs Incurred Be Capitalized?

By: David M. Reape

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What Makes Intangibles So Complicated? IRS regulations require the capitalization of costs to: […]

Closing Your Business? Here are Your Final Tax Responsibilities

By: David M. Reape

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner’s retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If […]

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