The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and medical leave to their employees.
If you think that, once your not-for-profit receives its official tax-exempt status from the IRS, you don’t have to revisit it again, think again.
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets.
If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction agai
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guarante
The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities and their owners.
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreci
A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019.
Michael MacDonald, CPA, Principal
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business increased by 3.5 cents, to the highest lev