Tax depreciation rules for business automobiles
If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles […]
Post Author: Kate Protsenko-Blake CPA
Is an S corporation the best choice of entity for your business?
Are you thinking about launching a business with some partners and wondering what type of entity to form? An S corporation may be the most suitable form of business for […]
The Cents-Per-Mile Rate for Business Miles Decreases Again for 2021
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents, to 56 cents per mile. As a […]
Should You Convert From a C to an S Corporation?
The best choice of entity can affect your business in several ways, including the amount of your tax bill. In some cases, businesses decide to switch from one entity type […]
Drive More Savings to Your Business With the Heavy SUV Tax Break
If you are considering replacing a car that you’re using in your business, there are several tax implications to keep in mind. A cap on deductions Cars are subject to […]
Small Businesses: Cash In on Depreciation Tax Savers
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you […]
CARES Act made changes to excess business losses
As a follow up to an article we posted earlier in the spring, the CARES Act made changes to excess business losses. This includes some changes that are retroactive and […]
M&A transactions: Avoid surprises from the IRS
If you’re considering buying or selling a business — or you’re in the process of a merger or acquisition — it’s important that both parties report the transaction to the […]
Is there still time to pay 2018 bonuses and deduct them on your 2018 return?
There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to pay employee bonuses for 2018 […]
