Keep Track of Your Odometer to Claim Business Mileage
Do you claim your business miles at the IRS optional rate? If so, imagine you are now being audited by [...]
Go to EFTPS to Check if the IRS Received Your Money
Is your last payment of payroll taxes in the hands of the IRS or in the hands of an embezzler? [...]
Beware of Dishonest Tax Preparers
Here’s a rule: Protect yourself. Do not engage dishonest tax preparers. And here’s a story that we want you to [...]
Property Improvements Under the New Tax Law
Qualified improvement property is any improvement to the interior portion of a building that is nonresidential real property (think office [...]
Deducting Medicare Reimbursements to Your Employees
The Affordable Care Act’s $100-a-day penalty for improper medical reimbursements likely has your attention. And it should. But you can [...]
What Should You Do If Your K-1 Does Not Include The Qualified Business Deduction?
Tax reform’s Section 199A deduction often confuses small-business owners and tax professionals alike. It’s quite possible you’ll get a Schedule [...]
How the New Tax Laws Affect Loaning Your Company Money
Making loans to your corporation became more hazardous 33 years ago with the Tax Reform Act of 1986. But the new [...]
Reimburse Your Employees for Education and Training
As a small-business owner, you probably incur work-related education expenses from time to time. You may even decide to pursue [...]
Benefits of Entertainment Facilities
Imagine this: your Schedule C business buys a home at the beach, uses it solely as an entertainment facility for [...]
Rental Arrangements to Lower Your Self-Employment Taxes
As a sole proprietor, you know that the 15.3 percent self-employment tax can eat up your profits in a hurry. [...]