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
There aren’t too many things businesses can do after a year end to reduce tax liability for that year.
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes.
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019.