{title} icon

Business Tax Articles

 

2024 Year-End Tax Planning Guide for Businesses - Tax Accounting Methods

2024 Year-End Tax Planning Guide for Businesses - Tax Accounting Methods

Posted by Michē Needham on November 21, 2024

This guide identifies tax strategies and considers how they may be influenced by recent administrative guidance and potential legislative changes that remain under consideration. A taxpayer’s tax accounting methods determine when income is recognized, and costs are deducted for income tax purposes.

> Read More
Maximizing Tax Deductions for Business Travel

Maximizing Tax Deductions for Business Travel

Posted by John Anderson on November 04, 2024

As a business owner, understanding which travel expenses are tax-deductible can significantly impact your bottom line. This guide covers the essentials of deducting travel costs, from transportation and lodging to meals and tips, ensuring you stay compliant and maximize your tax savings. Proper recordkeeping and knowledge of your tax home are crucial for claiming these deductions.

> Read More
Does Your Business Need to Report Employee Health Coverage?

Does Your Business Need to Report Employee Health Coverage?

Posted by Bradley Bach on September 30, 2024

Businesses offering employee health coverage may be required to comply with federal reporting obligations under the Affordable Care Act (ACA). Companies with 50 or more full-time employees must file Forms 1094-C and 1095-C to report health coverage details and determine compliance with employer mandate provisions. Employers with fewer than 50 full-time employees are generally exempt from these requirements.

> Read More
2024 Q4 Tax Calendar: Key Deadlines for Businesses and Employers

2024 Q4 Tax Calendar: Key Deadlines for Businesses and Employers

Posted by John Anderson on September 23, 2024

As the fourth quarter of 2024 approaches, business owners must be aware of key tax deadlines, including filing returns, making estimated tax payments, and contributing to retirement plans. Missing these important dates can result in penalties or interest charges. This article highlights the most critical deadlines and filing requirements to help ensure businesses stay compliant.

> Read More
Ensuring Tax Compliance for Your Partnership or LLC

Ensuring Tax Compliance for Your Partnership or LLC

Posted by Kerry Roets on September 16, 2024

A well-drafted partnership or LLC operating agreement should address key tax considerations, such as guaranteed payments, partner liabilities, and payments to retired partners. These provisions ensure tax compliance and help manage potential issues like partner exits or ownership transfers. Properly addressing these matters minimizes tax liabilities and protects the business.

> Read More
It’s Time to Begin Year-End Tax Planning for Your Small Business

It’s Time to Begin Year-End Tax Planning for Your Small Business

Posted by Alexander Intihar on September 09, 2024

As the year-end approaches, small businesses should focus on tax planning strategies like deferring income, accelerating deductions, and maximizing the QBI deduction to reduce their tax liabilities. It's also essential to stay updated on estimated tax payments, Section 179 expensing options, and potential changes to tax laws that could impact future filings. Consulting with a tax professional can help tailor these strategies to your business's needs.

> Read More
Why an LLC Might Be the Best Option for Your Small to Mid-Sized Business

Why an LLC Might Be the Best Option for Your Small to Mid-Sized Business

Posted by Kerry Roets on September 03, 2024

An LLC offers business owners the liability protection of a corporation while allowing for the tax benefits of a partnership. Members can avoid personal liability for business debts and enjoy pass-through taxation, with the flexibility to allocate tax benefits and fewer restrictions compared to an S corporation. For small to mid-sized businesses, this structure can provide both legal and financial advantages.

> Read More
Navigating Tax Complexities of Partnership and LLC Operating Agreements

Navigating Tax Complexities of Partnership and LLC Operating Agreements

Posted by Kerry Roets on August 26, 2024

Partnerships and multi-member LLCs benefit from pass-through taxation, but they must adhere to complex federal tax rules. Properly drafted partnership and LLC operating agreements are essential for addressing key tax-related issues, including special tax allocations and distributions for covering tax liabilities. Seeking professional guidance can ensure compliance and optimize tax benefits.

> Read More
Anticipating Future Tax Changes for Businesses

Anticipating Future Tax Changes for Businesses

Posted by Cory Van Deusen V on August 08, 2024

The upcoming presidential and congressional elections could significantly alter the tax landscape for U.S. businesses, as many provisions of the Tax Cuts and Jobs Act (TCJA) are set to expire at the end of 2025. Potential outcomes range from the complete expiration of these provisions to their extension or replacement with new tax laws. The future impact on your business will depend on the election results and subsequent legislative changes.

> Read More
Sales Tax Requirements for Drop Shipping Arrangements

Sales Tax Requirements for Drop Shipping Arrangements

Posted by Mark Stack on July 31, 2024

Drop shipments occur when a retailer takes an order and directs a wholesaler to ship the product directly to the customer. However, depending on the facts and circumstances, such as location and nexus status for all parties involved, how property is delivered, and how the title to property passes, the responsibility and requirement to charge and collect sales tax can change.

> Read More
Page 3 of 8 pages  < 1 2 3 4 5 >  Last ›
SIGN UP TO RECEIVE OUR LATEST TAX AND ACCOUNTING ARTICLES, NEWSLETTERS, AND EVENTS. SIGN UP

Comprehensive. Proactive. Accessible.
How Can We Help?