Tax Breaks Slide in Under the Wire!

Tax Breaks Slide in Under the Wire! With less than two weeks to go in 2015, Congress gave both business owners and individual taxpayers a wonderful holiday surprise by passing an important piece of tax legislations. The PATH (Protecting Americans from Tax Hikes) Act, which was signed into law on December 18th, reinstated many important … [Read more…]

Research & Development Tax Credit

Make Use of the Research and Development Tax Credit While big corporations like Boeing, Mattel, Caterpillar and Google are saving millions of dollars through the use of Research and Development tax credits, it is a tax saving opportunity that is often overlooked and underused by smaller businesses. In fact, research has shown that only about … [Read more…]

Business Tax Extension Deadline on the Horizon

Business Tax Extension Deadline on the Horizon With the business income tax extension deadline just around the corner, it is a good time to examine the issue of business tax compliance and its importance to the successful functioning of business entities of all types. Although the upcoming extension deadline applies specifically to income tax, businesses are responsible for … [Read more…]

The Best Vehicle Expense Method

The Best Vehicle Expense Method Choosing the Best Vehicle Expense Method: Businesses generally have the option of choosing between one of two methods for documenting vehicle expenses and reporting them on their tax return. With the actual expense method, the business documents and reports all of a vehicle’s operating expenses including gas, oil, scheduled maintenance and … [Read more…]

IRS – Opening Date for Tax Season 2015

IRS – Opening Date for Tax Season 2015 – In spite of the fact that the tax extenders bill, a major piece of tax legislation, was passed just weeks before the end of the year, the Internal Revenue Service has announced that there will be no delay to the opening of the 2015 tax season. … [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…]

Are Business Taxes Too High?

Are Business Taxes Too High? Are Business Taxes Too High? The debate continues between those who think that the United States corporate tax rate is too high and those who think that it is in line with the average corporate tax rate for other countries. Although it is unlikely that a major tax reform bill … [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…]