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...
by Brian Hare, CPA, CGMA | Feb 22, 2023 | Business, Tax, Uncategorized
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re self-employed and run your business from home or perform certain functions there, you might be able to...
by Brian Hare, CPA, CGMA | Feb 1, 2023 | Blog, Tax, Uncategorized
Most retirement plan distributions are subject to income tax and may be subject to an additional penalty if you take an early withdrawal. What’s considered early? In general, it’s when participants take money out of a traditional IRA or other qualified retirement plan...
by Brian Hare, CPA, CGMA | Jan 10, 2023 | Business, Tax, Uncategorized
If you’re considering converting your C corporation to an S corporation, be aware that there may be tax implications if you’ve been using the last in, first out (LIFO) inventory method. That’s because of the LIFO recapture income that will be triggered by converting...
by Brian Hare, CPA, CGMA | Dec 7, 2022 | Blog, Tax, Uncategorized
The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use of paper losses and actual losses from your stock market investments. Tax rates on sales Individuals...
