5.14.25
Can You Deduct the Costs of a Spouse on a Business Trip?
If you own a company and travel for business, you may wonder whether you can deduct all the costs of having your spouse accompany you…
5.14.25
The High Cost of Worker Misclassification: Tax Implications and Risks
The consequences of misclassifying an employee as an independent contractor can be costly. You could be liable for back taxes (including the employee’s shares of…
5.12.25
Use the Tax Code To Make Business Losses Less Painful
Even well-run companies experience down years. The federal tax code may allow a bright strategy to lighten the impact. Certain losses, within limits, may be…
5.5.25
Corporate Business Owners: Is Your Salary Reasonable in the Eyes of the IRS?
Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high…
4.28.25
An Education Plan Can Pay Off for Your Employees — And Your Business
Your business can set up an education plan that can give each eligible employee up to $5,250 in annual federal-income-tax-free and federal-payroll-tax-free benefits. These tax-favored…
4.21.25
Explore SEP and SIMPLE Retirement Plans for Your Small Business
Suppose you’re thinking about setting up retirement plans for yourself and your employees. However, you’re concerned about the financial commitment and administrative burdens involved. There…
4.14.25
Hiring Your Minor Children for Summer Jobs
With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to earn some extra…
4.14.25
Nexus Requires Compliance and Begins by Filing Tax Returns
“Nexus” is a fancy Latin word that refers to the relationship of a taxing jurisdiction that enables it to subject your business to taxation. In…
4.11.25
Mitigate the Risks: Tips for Dealing With Tariff-Driven Turbulence
President Trump’s “Liberation Day” announcement of global tariffs caught businesses, as well as foreign countries and worldwide financial markets, off guard. While the president has…
4.8.25
Update for Contractors on the Presentation and Disclosure of Retainage
On April 1, 2025, the Financial Accounting Standards Board (FASB) released a staff educational paper to address questions surrounding how to apply revenue recognition guidance…