Operating as an S corporation may help reduce federal employment taxes for businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should…
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals…
A buy-sell agreement is a critical tool for owners of closely held manufacturing companies. It ensures an orderly ownership and management transition when an owner dies, becomes disabled, or otherwise leaves the company. And it creates a…
PREPARE YOUR BUSINESS WITH THESE TAX DEADLINES Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Keep in mind that this list isn’t all-inclusive, so…
Does Your Business Sell Products or Services Out Of State? You’ll need to be aware of economic nexus laws You are considered a remote seller if you sell products or services into a state in which you…
Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why would you want to? One reason might…
If your business doesn’t already have a retirement plan, now might be a good time to establish one. Current retirement plan rules allow for significant tax-deductible contributions. For example, if you’re self-employed and set up a SEP-IRA,…
First-year bonus depreciation typically creates a powerful tax incentive for eligible manufacturers to purchase qualified property needed for business reasons. These tax write-offs can benefit a manufacturer’s cash flow, but claiming them isn’t always the best decision.…
The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships and S corporations won’t be required to…
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to eligible businesses. Claiming the credit involves complex calculations, which we can take care of…
Business owners may have goals for their companies that outlive their ownership, and the right type of buyer can enable a seller to transform a business exit into a springboard that boosts the company to its next…
Economic changes brought by the COVID-19 pandemic, along with other factors, drove historic global mergers and acquisitions (M&A) activity in 2021. Experts expect 2022 to be another busy year for dealmaking. In many cases, M&A opportunities arise…
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