General Tax

A recent law extended the Work Opportunity Tax Credit (WOTC) for businesses who hire individuals from one or more targeted groups. The credit is generally limited to eligible employees who began work for the employer before January 1, 2026.

During the past year, many more people are working from home. If you’re self-employed and run your business from your home or perform certain functions there, you might be able to claim deductions for home office expenses against your business income.

In 2020, many people joined the gig economy to help make ends meet during the pandemic. Whether it’s a side business or a primary source of income, all taxpayers need to understand how their gig work affects their taxes.

If you are considering buying or selling another business, it’s important to understand the tax implications.

Did you know that your business may be eligible for a federal tax credit simply by hiring certain qualified employees?

S corporations can provide tax advantages over C corporations in the right circumstances. This is true if you expect that the business will incur losses in its early years because shareholders in a C corporation generally get no tax benefit from such losses.

Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in?

IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you should do well.