Construction and Real Estate

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Tax Rules of Selling Business Property

There are complex tax implications that may apply when selling business property used in your trade or business. Rules apply to gains and losses and the amount of time you have had the business property.
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Bad Debt Deductions for Businesses

Struggling with uncollectible debts? This article explains how to manage bad debts, including how to report them, track allowances, and handle unexpected repayments—all while staying compliant with tax rules.
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Timeframe for IRS audits

Ever wondered how long you could be subject to an IRS audit? Understanding the timeframe for IRS audits, the statute of limitations, and the circumstances that may extend this period is crucial for maintaining proper tax records and ensuring compliance.
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Corporate Estimated Tax

You want your business to pay the minimum estimated tax amount without triggering a penalty for underpayment. Keep in mind that the next payment deadline is September 16, 2024.
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Employee Retention Credit Processing

The IRS is making significant strides in processing Employee Retention Credit claims. Gain a deeper understanding of these recent updates and their implications for your business.
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Preparing for Post-TCJA

Preparing for post-TCJA corporate tax changes in 2026 and beyond should be explored now. This article clarifies the complex tax landscape and offers valuable foresight for businesses.
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FTC Ban on Noncompete Agreements

A new FTC ruling has made noncompete agreements unenforceable for most employees, with the aim of fostering competition and job mobility. Learn about the ruling and its potential impact on your business in this article.
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Maximize Depreciation of Newly Acquired Assets

Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can help achieve this goal: first-year Section 179 depreciation deductions and first-year bonus depreciation deductions.
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Maximize the QBI Deduction

The qualified business income, QBI deduction, is available to eligible businesses through 2025. After that, it’s scheduled to disappear unless Congress acts to extend it. So make the most of the tax break while it’s still on the books.
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R&D Credit for Small Businesses

Even if your startup business has little or no income tax liability, you may be eligible for a payroll tax credit election for increasing R&D activities. This tax break got better under the Inflation Reduction Act.
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Cash and Accrual Accounting Methods

Businesses have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes.
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Identity Theft Scams – Protect Yourself

Identity theft occurs when someone wrongfully obtains and uses another person's personal information, such as their name, Social Security number, credit card accounts, or other confidential data, and uses it to commit financial fraud or engage in other criminal activities while impersonating the victim.
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Company Car and Taxes

For many employees, the use of a company car is a cherished perk. But before you hand over the keys, make sure you understand the rules that apply to a company car and taxes.
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2024 Inflation-Adjusted Rates

The IRS has announced various federal inflation-adjusted rates.  Here’s a rundown of the amounts that are most likely to affect small businesses and their owners.
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2024 Q1 Tax Deadlines

In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligations.
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