The Employee Retention Tax Credit (ERTC) is a valuable tax break extended and modified by the American Rescue Plan Act (ARPA). Here’s a rundown of the rules.
As the COVID-19 pandemic starts to subside, you may be traveling again for business. Under tax law, there are some rules for deducting the cost of your out-of-town business travel within the United States.
VIDEO: The American Rescue Plan expanded the Child Tax Credit and provided a mechanism for families to receive advance payments for the credit. In this video, we will provide an overview of the Child Tax Credit and the advance payments that will begin this summer.
VIDEO: The Qualified Business Income (QBI) Deduction can reduce an individual's tax liability on pass-through income by as much as 20% of taxable business income from the entity. Here's a great 3-minute video to find out more.
If you’re claiming deductions for business meals or auto expenses, expect the IRS to review them closely. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law
If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, spend time with you, save for college and learn how to manage money.
Many Americans remain unemployed due to the COVID-19 pandemic — at least 9.8 million at the end of April. But that’s expected to change quickly as employers ramp up hiring activities. If your not-for-profit will soon need new staffers, you might want to start putting out feelers now.
If your business is organized as a sole proprietorship or as a wholly-owned limited liability company (LLC), you’re subject to both income tax and self-employment tax.
If you are interested in alternative energy technologies to help manage your business energy costs, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types of alternative energy property.
VIDEO: In addition to appreciation and income generation, rental real estate can provide many tax benefits. In this video, we will cover some of the more attractive tax strategies for real estate owners.
While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these people start out operating as sole proprietors.
This site may use cookies to store information on your computer. Some are essential to make our site work and others to improve the user experience. By using this site, you consent to the placement of these cookies and accept our privacy policy.