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 […]
Post Author: David Reape CPA
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 […]
2022 Q2 Tax Calendar: Key Deadlines for Businesses & Other Employers
Q2 Tax Calendar Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Keep in mind that this Q2 […]
Ways Your Business can Accelerate Taxable Income and Defer Deductions
Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why […]
Does Your Business Barter? Here are Some Facts You Should Know
In today’s economy, many small businesses are strapped for cash. They may find it beneficial to barter or trade for goods and services instead of paying cash for them. Bartering […]
Can You Deduct the Costs of a Spouse on a Business Trip?
If you own your own company and travel for business, you may wonder whether you can deduct the costs of having your spouse accompany you on trips. The rules for […]
Important Tax Aspects of Operating Your Business as a Sole Proprietor
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your venture. 8 Issues […]
Good Business Records Maximize Tax Deductions & Reduce Audit Issues
If you operate a business, or you’re starting a new one, you know you need to keep business records of your income and expenses. Specifically, you should carefully record your […]
