6.16.24
What Types of Expenses Can’t Be Written off by Your Business?
If you check the Internal Revenue Code, you may be surprised to find that most business deductions aren’t specifically listed there. For example, the tax…
6.11.24
Figuring Corporate Estimated Tax
The next quarterly estimated tax payment deadline is June 17 for individuals and businesses, so it’s a good time to review the rules for computing…
6.3.24
Inflation Enhances the 2025 Amounts for Health Savings Accounts
The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and…
5.31.24
Does Your Nonprofit Need an Annual Audit?
I’m frequently asked the question as to whether a nonprofit needs an annual audit, and the answer is that it depends. Although there’s no federal…
5.31.24
When Do 501(C)(6) Organizations Risk Their Exempt Status?
Even when they’re nonprofits, trade associations and chambers of commerce generally qualify for a tax exemption under Section 501(c)(6) of the Internal Revenue Code, not…
5.31.24
Building a Better Nonprofit Rules for Restructuring
There are many reasons why a 501(c) tax-exempt organization might consider restructuring. For example, a financially struggling nonprofit might decide to join forces with another…
5.31.24
Nonprofits: Take Another Look at Inflation Reduction Act Tax Breaks
When the Inflation Reduction Act (IRA) became law in late 2022, you might have assumed that the tax breaks it contained wouldn’t affect your tax-exempt…
5.31.24
Best Practices for Offsite Construction Project Management
Under the offsite construction model, major building components or even entire modular structures are prefabricated in manufacturing facilities and transported to job sites for assembly.…
5.28.24
Should You Convert Your Business From a C to an S Corporation?
Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited…
5.21.24
Meals & Entertainment: What Can Your Construction Company Deduct?
The Internal Revenue Service (IRS) generally limits the deductibility of food and beverage expenses associated with operating a trade or business to 50%. Activities that…