Understanding the passive activity loss rules
October 23, 2020
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in? If the ventures…
Buying and selling mutual fund shares: Avoid these tax pitfalls
October 23, 2020
If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise sales You may…
The 2021 “Social Security wage base” is increasing
October 22, 2020
If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing. The Social…
4 steps to improving your company’s sales
October 12, 2020
Most salespeople would tell you that there are few better feelings in life than closing a deal. This is because guiding a customer through…
Reinforce protection of your company’s mobile devices
October 2, 2020
Whether it’s a smart phone, tablet or laptop, mobile devices have become the constant companions of today’s employees. And this…
Can investors who manage their own portfolios deduct related expenses?
October 1, 2020
In some cases, investors have significant related expenses, such as the cost of subscriptions to financial periodicals and clerical…
Business website costs: How to handle them for tax purposes
October 1, 2020
The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when Internet website costs can…
Weighing the risks vs. rewards of a mezzanine loan
September 30, 2020
To say that most small to midsize businesses have at least considered taking out a loan this year would probably be an understatement.……
Tax implications of working from home and collecting unemployment
September 30, 2020
COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about two common…
2020 Q4 tax calendar: Key deadlines for businesses and other employers
September 29, 2020
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep in mind…
Prioritize customer service now more than ever
September 29, 2020
You’d be hard-pressed to find a business that doesn’t value its customers, but tough times put many things into perspective. As companies…
Homebuyers: Can you deduct seller-paid points?
September 28, 2020
Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide,…
Employers have questions and concerns about deferring employees’ Social Security taxes
September 28, 2020
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit…
ESOPs offer businesses a variety of potential benefits
September 25, 2020
Wouldn’t it be great if your employees worked as if they owned the company? An employee stock ownership plan (ESOP) could make this a…
Back-to-school tax breaks on the books
September 25, 2020
Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule. In any…
5 key points about bonus depreciation
September 24, 2020
You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five…
Helping employees understand their health care accounts
September 24, 2020
Many businesses now offer, as part of their health care benefits, various types of accounts that reimburse employees for medical expenses…
Will You Have to Pay Tax on Your Social Security Benefits?
September 23, 2020
If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will you…
CARES Act made changes to excess business losses
September 23, 2020
The Coronavirus Aid, Relief and Economic Security (CARES) Act made changes to excess business losses. This includes some changes that are…
Take a fresh look at your company’s brand
September 22, 2020
A strong, discernible brand is important for every business. Even a company that never undertakes a formal branding effort will, over…
What happens if an individual can’t pay taxes
September 22, 2020
While you probably don’t have any problems paying your tax bills, you may wonder: What happens in the event you (or someone you know)…
The President’s action to defer payroll taxes: What does it mean for your business?
September 18, 2020
On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of…
5 common accounting software mistakes to avoid
September 18, 2020
No company can afford to operate without the right accounting software. When considering whether to buy a new product or upgrade their…
More parents may owe “nanny tax” this year, due to COVID-19
September 17, 2020
In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may…