Business Articles

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Businesses Score Big Tax Benefits with the CARES Act

As part of the stimulus package to help offset the financial damage inflicted on businesses as a result of the COVID-19 crisis, Congress restored the ability of businesses that suffer a loss to carry those losses back and recover taxes paid…
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Why You Need a Financial Advisor Even More in Uncertain Times

We are living during a period of trying, uncertain times.  The current outbreak of the Coronavirus disease (COVID-19), has had a significant impact on the way we go about our daily lives. From how we work, to how we live, to how we relax,…
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2020 Standard Mileage Rates Announced

The Internal Revenue Service (IRS) computes standard mileage rates for business, medical and moving each year, based on a number of factors, to determine the standard mileage rates for the following year. As it does annually around the end…
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2019 Business Tax Highlights

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How Business Owners Should Conceptualize Their Financial Results

Entrepreneurs don't necessarily need to be numbers people in order to succeed: You need drive, passion, the ability and will to follow things through, and the hustler's spirit that enables you to constantly try that new thing or relentlessly…
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Is It Time for a Payroll Tax Checkup?

Was your 2018 federal tax refund less than normal, or – worse yet – did you actually owe tax despite usually getting a refund? If so, this was primarily due to the last-minute passage of the Tax Cuts and Jobs Act at the end of 2017. Because…
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Foreign Account Reporting Requirements

U.S. citizens and residents with a financial interest in or signature or other authority over any foreign financial account need to report that relationship by filing FinCEN Form 114 if the aggregate value of the accounts exceeds $10,000 at…
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Are You an S Corporation Stockholder? Are You Taking Reasonable Compensation in the Form of Wages? Article Highlights:

S corporation compensation requirements are often misunderstood and abused by owner-shareholders. An S corporation is a type of business structure in which the business does not pay income tax at the corporate level and instead distributes…