Small Business Tax Deductions

Small Business Tax Deductions Being a small business owner has its challenges and rewards. Business tax deductions can be both. While many tax deductions are available to small businesses, it requires both knowledge and commitment on the part of the business owner or a business tax professional to keep up with what deductions are available … [Read more…]

Cadillac Tax on the Horizon

Cadillac Tax on the Horizon Beginning in 2018, employers who offer their employees health insurance coverage that costs in excess of a certain dollar amount will be required to pay a 40% tax on the costs associated with providing the plans. Currently there is no ceiling on the tax deductible amount employers can claim for … [Read more…]

Audit-Proof your Small Business Tax Return

Audit-Proof your Small Business Tax Return Audit-Proof your Small Business Tax Return – Although there is no way for a small business to avoid an IRS audit with absolute certainty, there are some steps that can be taken to minimize the chances of being selected. In addition to being one of the categories targeted for … [Read more…]

Important – Net Operating Loss Deduction!

Don’t Overlook the Net Operating Loss Deduction Important:- Net Operating Loss Deduction – The carryover of a net operating loss is a valuable tax deduction in that it allows an operating loss from the current tax year to offset income from previous or future tax years. This is important because it one of the only … [Read more…]

The Outsourcing of Payroll Services

The Outsourcing of Payroll Services  – Although the outsourcing of payroll services is often one of the smartest financial choices a business can make, there are certain considerations that should be addressed when selecting a third party payroll services provider. While the outsourcing of payroll services has numerous advantages, the fact that these functions are an important … [Read more…]

Small Business Tax Update!

Small Business Tax Update -Now that your corporate tax return or your corporate tax extension has been filed, it is as good a time as any to begin making changes that will save your business tax dollars and make tax record keeping a little easier. The following points highlight some small business tax issues that … [Read more…]

Tax Alert for Small Business Start-Ups!

  Tax Alert for Small Business Start-Ups! – Any new business owner will soon realize that business taxes are one of the largest business expenses. This being the case, saving money on tax dollars is one of the most effective ways of increasing profitability. However, since the IRS tax code governing the start-up and continuing … [Read more…]