Sending the Kids to Day Camp this Summer?
If your child is going to a summer day camp while you work, it may count as an expense toward the federal Child and Dependent Care Credit.
Traveling With Your Spouse on Business? Know What’s Deductible
If you own a company and travel for business, you may wonder whether you can deduct all the costs of having your spouse accompany you on trips. It’s possible, but the rules are restrictive.
Does the Corporate Transparency Act Apply to Your Business?
Under the Corporate Transparency Act (CTA), many businesses are subject to new reporting requirements that went into effect on January 1, 2024.
3 Ways Your Business Can Uncover Cost Cuts
Every business wants to cut costs, but it isn’t easy. We’re talking about clear and substantial ways to lower expenses, thereby strengthening cash flow and giving you a better shot at strong profitability. Obvious places to slash costs (such as wages, benefits and overhead) often aren’t viable options because the very stability of your operation…
Four ways corporate business owners can help ensure compensation is “reasonable”
If you own a C corporation, you know there’s a tax advantage to taking money out as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but it can’t deduct dividend payments. Therefore, if funds are paid as dividends, they’re taxed twice, once to the corporation…
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 claim a deduction.
Education Benefits Help Attract and Retain Employees While Saving Taxes
Your business can attract and retain employees by providing education benefits that enable team members to improve their skills and gain additional knowledge, all on a tax-advantaged basis.
The Ins and Outs of the Home Office Deduction
If you’re self-employed and run your business from home, or perform certain functions there, you might be able to claim deductions for home office expenses against your business income.
Buy-Sell Agreements Require Careful Planning
Does your business have multiple owners? If so, you need a buy-sell agreement.