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Defined Benefit Plans: Which one is Right for your Business?

If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees.

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First-Year Bonus Depreciation for QIP: Is it Better than 15-Year Depreciation?

Congress finally passed legislation that corrects a drafting error related to real estate qualified improvement property and first-year bonus depreciation.

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Social Security Wage Base is Increasing in 2021

If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing.

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3 CARES Act Modifications that Ease Rules for Some Tax Losses

The CARES Act eases the rules for claiming certain tax losses and liberalizes rules for NOL carryforwards. Here’s a look at the modifications.

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How do Passive Activity Loss Rules Affect my Business?

If your ventures are passive activities, the passive activity loss rules prevent you from deducting expenses that are generated by them in excess of their income.

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Business Interest Expense Limitations Relaxed by CARES Act

The CARES Act temporarily relaxes the limitation on deductions for business interest expense. Here’s the story.

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How to Survive an IRS Audit

IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined.

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Just How Far Reaching is the Economic Nexus Doctrine Permitted Under Wayfair?

More states are modifying their nexus doctrines to embrace the concept of economic presence for both sales and income taxes.

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How to Deduct the Software Costs of your Business

If you buy, lease or develop computer software, you should be aware of the complex rules that apply to determine the tax treatment of these expenses.

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How to Handle Business Website Costs

The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when website costs can be deducted.

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