Small businesses that get their loans forgiven cannot accept tax deductions for wages and other associated expenses, the IRS said in a ruling that downgrades the potential value of...
Posted by Daniel P Vigilante CPA and Profit Consultants on 07/06/2021
Small business funds can help you launch your startup, hire more employees, or open a new location. The right kind of funding for your small business will largely depend on what you...
Posted by Dennis Jao on 07/06/2021
A self-employed individual can generally deduct their necessary and ordinary business expenses incurred when traveling for business purposes from their income. However, it is important...
Posted by Tiffany Gaskin on 05/29/2021
Almost every section of the tax code was changed by the 2017 TCJA, which also affected every taxpayer, including businesses. While some of these changes were positive (reduced tax...
Posted by Karen Munoz, EA on 05/24/2021
Tax time is never fun for both businesses and individuals. Filing taxes includes many intricacies like taking care of 1099 for contractors, estimating your tax returns, and taking...
Posted by KLSM CPA Firm PLLC on 05/24/2021
In estimating the business use of a vehicle, there are two methods. One needs to calculate the vehicle expenses using each mode and select the most significant deductions approach. The...
The presence of business equipment and supplies gotten for tax purposes might make things a little complicated when it comes to filing a business tax return. These two business purchases...
Posted by The TaxAdvocate Group, LLC on 03/31/2021
A business entity is an organization created to carry out business. The type of business entity determines how a company is taxed and its exposure to liabilities.SummaryA business...
Posted by Daniel P Vigilante CPA and Profit Consultants on 01/27/2021
One of the ways to significantly reduce your business income tax is the business use of a vehicle. It is an important entity that you can use to bring down your tax for two reasons: The...
Posted by Dennis Jao on 12/25/2020
