Business

If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up being nondeductible both by an officer and the corporation unless the correct steps are taken. This issue is more likely to happen with a financially troubled corporation. What can’t you […]

“It’s in the pipeline!” Business owners often hear this rather vague phrase, which may be good news in some cases or code for “don’t hold your breath” in others. Your sales pipeline management, however, is a very real thing. Simply defined, it identifies and quantifies the prospective deals in progress at various stages of the sales […]

If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder! For 2023, the self-employment tax is imposed at the painfully high rate of 15.3% on the first $160,200 of net SE income. This includes 12.4% for Social Security tax and 2.9% for Medicare tax. The […]

Once a business is up and running, one fundamental aspect of operations that’s easy to take for granted is billing. Often, a system of various processes is put in place and leadership might consider occasional billing mistakes to be part of the “cost of doing business.” However, to keep your company financially fit, it’s imperative […]

If you own a successful small business with no employees, you might be ready to set up a retirement plan. Now a solo 401(k) might seem way out of your reach — only bigger companies can manage one of those, right? Not necessarily. Two ways to contribute With a solo 401(k), the self-employed can make large annual deductible contributions […]

Quick list of Q3 tax deadlines for your business and other employers.

Claiming first year real estate depreciation deductions? Read on to learn about the advantages and disadvantages of doing so.

Are you traveling for business this summer? You may be able to deduct more than you think. Read this blog to find out!

You might want to keep these Dos and Donts in mind when deducting business meal and vehicle expenses for your business.

Read more to learn the advantages to Health Savings Accounts and how much the IRS has announced for contributions for 2024.