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 […]
Business Accounting
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 […]
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 […]
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 […]
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. […]