Business Taxation: What Lies Ahead?
Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s […]
Tag: Business tax
What Are the Tax Implications of Buying or Selling a Business?
Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 as the country comes out of the pandemic. If […]
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 […]
The New Form 1099-NEC and the Revised 1099-MISC Are Due to Recipients Soon
There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by February 1, 2021. After […]
Business Website Costs: How to Handle Them for Tax Purposes
The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when Internet website costs can be deducted. Fortunately, established rules that generally apply […]
