by Brian Hare, CPA, CGMA | May 15, 2024 | Business, Tax, Uncategorized
Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know that the federal tax code treats corporate debt more favorably than corporate equity. So for shareholders of...
by Brian Hare, CPA, CGMA | May 1, 2024 | Uncategorized
It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as an architecture or law firm. For example, partners in service partnerships may incur entertainment expenses in...
by Brian Hare, CPA, CGMA | Apr 7, 2024 | Uncategorized
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully record expenses to claim all the tax deductions to which you’re entitled. And you want to make sure you can defend the...
by Brian Hare, CPA, CGMA | Mar 20, 2024 | Business, Tax, Uncategorized
If your small business is strapped for cash (or likes to save money), you may find it beneficial to barter or trade for goods and services. Bartering isn’t new — it’s the oldest form of trade — but the internet has made it easier to engage in with other businesses....
by Brian Hare, CPA, CGMA | Mar 14, 2024 | Uncategorized
The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So if you’re eligible, you want to make the most of the deduction while it’s still on the books because it can potentially be a big...
