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Accountable Plans: The Tax-Smart Way to Reimburse Employees

Learn how accountable plans let businesses reimburse employee expenses without creating taxable wages...

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Thinking About Selling Your Business? Start Preparing Your Financials Now

Planning to sell your business someday? Clean, credible financials can support buyer confidence, financing,...

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From Oil Fields to Your Bottom Line: How Global Events Quietly Raise Your Business Costs

Energy price volatility is driving up costs for small businesses. Learn how fuel, shipping, and supplier...

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Can a Self-Employed Taxpayer Mix Business and Pleasure During Foreign Travel and Still Get a Tax Deduction?

Note: the business expenses discussed in this article – both foreign and domestic – are not...

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Writing Off Your Business Start-Up Expenses

Unfortunately, as a result of the COVID pandemic many small firms have gone out of business. However,...

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S Corporations Reasonable Compensation Requirement

Unlike a C corporation, which itself pays the tax on its taxable income, an S corporation does not directly...

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Recordkeeping Tips to Keep the IRS Away

With the ever-increasing complexity of our tax system, it is commonplace for many small businesses to...

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Video: Quick Tips for Effective Tax Record-Keeping

Watch this video for tricks on how to keep good records of your business transactions and avoid running...

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Video tip: 100% Business Meal Deductions

Congress is giving a 100% business meal tax deduction for 2021 and 2022 to support the Restaurant Industry....

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Tax-Free Grants for Restaurants

The American Rescue Plan Act established the Restaurant Revitalization Fund (RRF) to provide funding...

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You Can Expense Business IT Purchases

Thanks to some very liberal tax laws written to encourage investment in personal tangible equipment,...

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Video: Standard Mileage for 2021 Announced

Watch the video to see the 2021 optional standard cents-per-mile rates for business, medical and moving...

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