by Brian Hare, CPA, CGMA | May 12, 2023 | Blog, Business, News, Tax
Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years, subject to certain limitations. Qualifying for a...
by Brian Hare, CPA, CGMA | Apr 26, 2023 | Blog, Business, Tax, Uncategorized
If you’re an incorporated business owner, you know there’s a tax advantage to taking money from a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but not dividend payments....
by Brian Hare, CPA, CGMA | Apr 7, 2023 | Uncategorized
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra spending money. You can save family income and payroll taxes by putting your child on the payroll. It’s a...
by Brian Hare, CPA, CGMA | Mar 15, 2023 | Blog, Business, Tax, Uncategorized
It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the law have expired or will expire in the next few years. One provision that took effect last year was the end of current...
by Brian Hare, CPA, CGMA | Mar 9, 2023 | Uncategorized
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut their taxes. However, in order to be deductible, advertising and marketing...
