Three Tax Breaks for Small Businesses
Bigger isn’t always better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. QBI deduction For 2018 […]
Post Author: David Reape CPA
Even if you close your business, you may still have tax obligations
Many businesses were forced to shut down recently due to the pandemic and the economy. A business must file a final income tax return and some other related forms for […]
How do Taxes Factor Into an M&A Transaction?
Although merger and acquisition activity has been down in 2022, according to various reports, there are still companies being bought and sold. If your business is considering merging with or […]
2022 Q3 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers on the 2022 third-quarter tax calendar. Keep in mind that this list isn’t all-inclusive, so there may […]
Businesses Will Be Able to Deduct More Under the Standard Mileage Rate
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas […]
Is Your Corporation Eligible for the Dividends-Received Deduction?
There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends […]
Help When Needed: Apply the Research Credit Against Payroll Taxes
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some […]
Businesses: Prepare for the Lower 1099-K Filing Threshold
Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required range of income to be […]
Inflation Enhances the 2023 Amounts for Health Savings Accounts
The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSA). High inflation rates will result in next year’s amounts being increased more than they have […]
Businesses May Receive Notices About Information Returns that Don’t Match IRS Records
The IRS has begun mailing notices to businesses, financial institutions and other payers that filed information returns with information that doesn’t match the agency’s records. These CP2100 and CP2100A notices […]
Tax Mechanics Involved in the Sale of Trade or Business Property
What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business property. Thus, to […]
Fully Deduct Business Meals this Year
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual meal deduction […]
