Spending bill extends tax breaks, adds retirement account provisions With its winter recess looming before it, Congress has engaged in a flurry of activity. Most notably, it reached agreement on
Small Businesses: It may not be not too late to cut your 2019 taxes
Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few strategies, including: 1. Buying
IRS updates rules for using per diem rates
The IRS recently issued guidance on how businesses, self-employed individuals and qualified employees can use the per diem rules to substantiate their business travel expenses for tax purposes. The guidance
Holiday parties and gifts can help show your appreciation and provide tax breaks
With Thanksgiving behind us, the holiday season is in full swing. At this time of year, your business may want to show its gratitude to employees and customers by giving
Two valuable year-end tax-saving tools for your business
At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related
IRS Updates Rules for Mileage-Related Deductions
The IRS has issued new guidance updating the rules for using optional standard mileage rates when calculating “above-the-line” deductions for the costs of operating an automobile for certain purposes. IRS
California Cannabis Update
California has the largest legal marijuana market in the world and is on track to post a record $3.1 billion in cannabis sales this year, representing a 23% increase over
Thinking about converting from a C corporation to an S corporation?
The right entity choice can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial tax advantages over C corporations in some
It’s not too late to trim your 2019 tax bill
Fall is in the air and that means it’s time to turn your attention to year-end tax planning. While several clear strategies and tactics emerged during the first tax filing
