6.6.19
Consider the Tax Advantages of Qualified Small Business Stock
While the Tax Cuts and Jobs Act (TCJA) reduced most ordinary-income tax rates for individuals, it didn’t change long-term capital gains rates. They remain at…
6.6.19
TCJA Inspires Many Business Owners to Reconsider Entity Choice
For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C…
5.31.19
IRS Wheels Out Additional Guidance on Company Cars
The IRS has updated the inflation-adjusted “luxury automobile” limits on certain deductions taxpayers can take for passenger automobiles — including light trucks and vans —…
5.31.19
Tax-Smart Domestic Travel: Combining Business with Pleasure
Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have…
5.31.19
Conflicts of Interest: When Employees Aren’t on Your Side
One of the governing principles of the employee/employer relationship is that employees have a fiduciary duty to act in their employer’s interests. An employee’s undisclosed…
5.31.19
IRS Updates Rules for Personal Use of Employer-Provided Vehicles
The IRS recently announced the inflation-adjusted maximum value of an employer-provided vehicle under the vehicle cents-per-mile rule and the fleet-average value rule. Employers can use…
5.31.19
Hire Your Children This Summer: Everyone Wins
If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids…
5.21.19
Hoping to Avoid Implementation of the New Revenue Recognition Standard?
Effective for 2019 calendar year end reporting, private company revenue recognition practices for contracts with customers (Topic 606) under accounting standards generally accepted in the…
5.17.19
How to Spot Influencer Fraud
To increase brand awareness and influence consumer behavior, businesses of all sizes spend vast amounts on social media marketing. Social media “influencers” can help companies…
5.17.19
Consider a Roth 401(k) Plan — and Make Sure Employees Use It
Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the…