Tax records: what to keep, what to toss
Norman G. Grill, CPA In general, the IRS has three years to audit a tax return from the due date...
Setting up a SEP
If you’re looking for a retirement plan for yourself and your employees but are concerned about the financial commitment and...
How to benefit from the Work Opportunity Tax Credit
If you’re looking to hire, you may be able to use a valuable tax credit to recruit from one or...
How to get a QBI tax deduction
QBI is the acronym for "Qualified Business Income," which can trigger a tax deduction for some small business owners or...
Traveling for business in 2024? What’s deductible?
Under the tax law, certain requirements for out-of-town business travel within the United States must be met before you can...
The advantages of an LLC structure
An LLC can give you corporate-like protection from creditors while providing the benefits of taxation as a partnership.
Beware of Section 179 expensing and bonus depreciation
If you claim Section 179 expense or bonus depreciation on QIP and sell the building soon, this current write-off may...
Understanding the tax implications when selling a business
Your business structure (i.e., business entity) also affects the way your business is taxed when it is sold.
Avoiding an IRS tax audit, plus making tax exclusion gifts
There is a possibility of a tax mistake that triggers an IRS audit.
Comparing retirement plan choices
Illustration by Mohamed Hassan / Pixabay. Employer-sponsored retirement plans have become an increasingly important tool for attracting and retaining high-quality...
