Newsletters

2019 Taxpayer Newsletters

If the names and Social Security numbers on your employees’ W-2 forms don’t match the government’s records, you may receive a “no-match letter.”  Here’s what these letters mean and how to proceed. No Match Letter

Is your small business accepting or using bitcoin or other virtual currencies yet? Familiarize yourself with the tax consequences, because the IRS is targeting users who fail to report and pay tax on transactions. Read more here: Virtual Currencies and the IRS

If you run a business from your home or are otherwise self-employed and use part of your home for business purposes, the home office deduction may provide a valuable tax break. Home Office

The Section 179 deduction and bonus depreciation for business assets have been increased and expanded. Learn more about these valuable tax breaks.

In the past couple of years, major changes have been made to the taxation of both C corporations and pass-through entities (including sole proprietorship's). So what’s the best entity choice for your small business? Entity Selection

New hires from certain disadvantaged “targeted” groups may qualify your business for the Work Opportunity Tax Credit. Here’s an overview of this potentially valuable tax break, including how it’s calculated. Valuable Tax Credit

Are you going on a business trip within the United States this summer? You might be able to add on some vacation days and deduct some of your expenses. Read more here: Tax Smart Domestic Travel

Are you a business owner with teenage or college-age children who constantly need money? Make them earn the money by hiring them. You can save taxes and reap other benefits. Read more here: Hire Your Children this Summer

If you spend money in the course of doing business, you want to be able to write it off on your tax return. But in order to be deductible, expenses must meet certain requirements. Here are the rules: Deductible Expenses

The treatment of food, beverage and entertainment expenses became more complicated after the Tax Cuts and Jobs Act. Here’s how to get the biggest tax-saving bang for your business meal bucks. Deducting Business Meal Expense

Like many major life events, divorce can have major tax implications. And if you own a business, the stakes are higher. Learn more: Divorcing Business Owners

Buying or selling a business may be the most important transaction you ever make. So it’s important to seek professional tax advice as you negotiate. After a deal is done, it may be too late to get the best tax results. M and A Transactions

Does the April 15 filing deadline apply to your company? What additional tax deadlines are there for businesses and employers during the second quarter of 2018? Find out! 2019 Q2 Tax Calendar

There’s a family and medical leave credit that could be an attractive perk for your company’s employees. But there are the rules and restrictions and it’s only available for two tax years. Learn more: Tax Credit for Family and Medical Leave

Are you wishing you’d set up a retirement plan for your small business for 2018? Believe it or not, you may still be able to do so, and also reduce your 2018 tax liability! Learn more: SEP Retirement

When deciding whether to lease or buy equipment or other fixed assets, there are a multitude of factors to consider, including tax implications. Learn more: Leasing VS Buying

Friends, Romans and countrymen, lend me your ears: All ye who must file a partnership or S corporation tax return, watch out for this tax deadline. Learn more: Beware the Ides of March

Business owners may be able to save tax with the home office deduction. But will you save more by claiming actual expenses or using the simplified method? Home Office

LLC members may be subject to back taxes and penalties if they underpay self-employment tax. Find out if you could be at risk. Learn more: LLC Members Subject to Self-Employment Tax

Most C corporations are seeing a significant tax cut under the Tax Cuts and Jobs Act. But there are still certain tax vulnerabilities for these entities that haven’t changed much. Fundamental Tax Truths for C Corporations

Enhanced depreciation-related tax breaks for certain business real estate investments, such as qualified improvement property, may offer substantial savings when you file your 2018 tax return. Learn more: Depreciation-Related Breaks

Do you know what the Section 179 expensing limit is for 2019? Or how much you can allow your employees to contribute to their 401(k) plans this year? Find out these amounts and other annual inflation adjustments affecting businesses. 2019 Businesses Tax Limits 

Businesses generally can determine their vehicle expense deductions either by calculating the actual expenses or using the IRS’s standard mileage rate, which has increased for 2019. Here’s what you need to know: 2019 Mileage Rates

If you’re like many business owners, you pay out annual bonuses to attract, retain and motivate employees. Depending on the circumstances, paying bonuses in early 2019 might reduce your 2018 tax liability. Read more here: Year-End Bonuses