New COVID-19 law makes favorable changes to “qualified improvement property”
A drafting error by Congress meant that some improvements to interior parts of nonresidential buildings had to be deducted over 39 years. But a new law that provides COVID-19 relief fixes the error and may result in revenue for eligible businesses.
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Answers to questions about the CARES Act employee retention tax credit
As a business with employees, you may have questions about the new employee retention tax credit. Here are some answers.
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Small Biz Funding Application Available
Small Business Funding Application is now available.
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CARES Act provides COVID-19 pandemic relief to businesses
The CARES Act includes several tax-related provisions to help businesses survive the coronavirus (CoVID-19) pandemic.
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The new COVID-19 law provides businesses with more relief
Another coronavirus (COVID-19) law has been enacted and it provides some relief to businesses and employers that are suffering. This article provides some highlights.
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Coronavirus (COVID-19): Tax relief for small businesses
In response to the coronavirus (COVID-19), Congress and the IRS have recently provided tax relief to businesses. Here’s a brief rundown.
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Small business owners still have time to set up a SEP plan for last year
Saving money for retirement is important to a business owner’s financial security. If you haven’t set up a retirement plan for yourself and your employees for 2019, you may still be able to do so, and reduce your tax liability for last year.
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Determine a reasonable salary for a corporate business owner
When it comes to executive compensation, C corporation owners need to keep it “reasonable.” Here’s why.
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Do you run your business from home? You might be eligible for home office deductions
Do you operate your business from home or perform certain functions at home that are related to your business? You might be able to claim home office deductions on your tax return.
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How business owners may be able to reduce tax by using an S corporation
If you conduct your business as an S corporation, you’ll be subject to income tax, but not self-employment tax, on your share of the S corporation’s income. Could this be the entity for you?
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Do you want to go into business for yourself?
There are many ways to conduct a business for tax purposes, including as an S corporation or a partnership. But many new ventures start out as sole proprietorships. Here are nine tax rules and considerations involved in operating as that entity.
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Do Your Employees Receive Tips? You may be eligible for a tax credit.
Employers in the food and beverage industry may be eligible for a valuable tax break with the FICA tip credit. Here’s how it works.
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