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Business Tax (2)

FAQs on the General Business Credit

The general business credit (GBC) may help certain small businesses cut their federal income tax...

Court Rules Corporate Reporting Law is Unconstitutional but Requirements Remain

Under the Corporate Transparency Act (CTA), many businesses had to begin complying with new...

Examine 6 Factors to Classify Workers as Employees or Independent Contractors

In January 2024, the U.S. Department of Labor (DOL) issued its long-awaited final rule related to...

Withdrawing Cash from Your C Corporation

C corporation ownersoften need to take cash out of the business to pay personal expenses or to...

Installment Sales Can Be a Win-Win for Buyers and Sellers

For federal income tax purposes, an installment sale is when at least one payment of proceeds from...

QBI Deduction: Use It or (Possibly) Lose It

The qualified business income (QBI) deduction is available to eligible individuals through 2025....

Dos and Don’ts for Business Expense Deductions

As tax seasonheats up, companies of all kinds and sizes will be on the hunt for ways to reduce...

Tax Breaks for Employer-Paid Education Expenses

Is your business struggling with a shortage of skilled workers in today's tight labor market? One...

Year-End Review of S Corp Compensation: Stay on the Right Side of the IRS

With 2024 right around the corner, your shareholders might be thinking about year-end bonuses or...

IRS Delays $600 Form 1099-K Reporting Threshold

Businesses and individuals concerned about the confusing 1099-K reporting requirements can breathe...