Typically, it’s better to defer tax. One way is through controlling when your business recognizes income and incurs deductible expenses. Here are two timing strategies that can help businesses do [...]
There’s a lot to think about when you change jobs, and it’s easy for a 401(k) or other employer-sponsored retirement plan to get lost in the shuffle. But to keep [...]
Business succession and exit planning should ideally be done over a long period of time (unless illness or another emergency makes it necessary to address them in the short term). Your [...]
Whether you're setting up a new company or you've been in business for years, you need to evaluate which legal structure is best for your enterprise. No one option is [...]
In general, a tax assessment by the IRS is presumed to be correct. A taxpayer can overcome the presumption with proof. That situation is reversed when the IRS asserts fraud. [...]
Tired of preparing all the documentation needed to support business travel expenses? If your business reimburses employees for actual travel expenses, employees are required to collect receipts as they travel, noting [...]
The federal income tax rules on qualified residence interest have been around for many years, but there's always a steady flow of disagreements between the IRS and taxpayers on these [...]
If you’re charitably inclined, making donations is probably one of your key year-end tax planning strategies. But if you typically give cash, you may want to consider another option that [...]
Section 529 plans provide a tax-advantaged way to help pay for college expenses. Here are just a few of the benefits: Although contributions aren’t deductible for federal purposes, plan assets [...]
The deadline for the Department of Labor's (DOL's) new final overtime rule is December 1, 2016. While CFOs at most large U.S. companies have been working overtime themselves to prepare [...]
If you have incomplete or missing records and get audited by the IRS, your business will likely lose out on valuable deductions. Here are two recent U.S. Tax Court [...]
Information provided by IRS Certain energy-efficient home improvements can cut your energy bills and save you money at tax time. The IRS suggest you keep the following key facts about [...]
Business woman holding a digital tablet pc analyzing stock market graph. Selective focus. If you invest, whether you’re considered an investor or a trader can have a significant [...]
Information from IRS You need to report any gambling winnings as income on your tax return. If you have gambling losses, you will need to itemize the losses up to [...]
If you recently redeemed frequent flyer miles to treat the family to a fun summer vacation or to take your spouse on a romantic getaway, you might assume that there [...]