6.21.23
Adopting a Child? Bring Home a Tax Break Too
Two tax benefits are available to offset the expenses of adopting a child. In 2023, adoptive parents may be able to claim a credit against…
6.21.23
The Tax Obligations if Your Business Closes Its Doors
Sadly, many businesses have been forced to shut down recently due to the challenges of the economy, including the supply chain. If this is your…
6.21.23
Is It a Good Time for a Roth Conversion?
The volatility in the stock market may have caused the value of your retirement account to decrease. But if you have a traditional IRA invested…
6.20.23
Virtual Currency Lands in the IRS’s Crosshairs
While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation…
6.20.23
What’s in the Fiscal Responsibility Act?
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal…
6.12.23
Advantages and Disadvantages of Claiming Big First-Year Real Estate Depreciation Deductions
Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But…
5.30.23
Keep These DOs and DON’Ts in Mind When Deducting Business Meal and Vehicle Expenses
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or…
5.30.23
Attracting and Retaining Talent in the Construction Industry
One of the most difficult issues in the construction industry is meeting the demand for labor. In 2022, the industry averaged more than 390,000 job…
5.25.23
Prepare for Project Delays With Savvy Financial Strategies
Although construction activity tends to ramp up nationwide over the summer, that doesn’t mean everything goes as planned. A project that looks sunny on paper…
5.25.23
Your Construction Company May Be Able To Claim the Fuel Tax Credit
The federal fuel tax credit recently made the news when it was referenced on the IRS’s most recent “Dirty Dozen” list of tax scams. However,…