Category

Tax

Tax
February 14, 2019

Fundamental tax truths for C corporations

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. But some fundamental tax truths for C…
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Tax
February 11, 2019

Depreciation-related breaks on business real estate

What you need to know when you file your 2018 return Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over…
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Tax
February 7, 2019

Many tax-related limits affecting businesses increase for 2019

A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some that may affect you and your business. Deductions Section 179 expensing:…
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Tax
January 29, 2019

Higher mileage rate may mean larger tax deductions for business miles in 2019

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 level since 2008. As a result, you might be…
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Tax
December 31, 2018

2019 Q1 tax calendar

Key deadlines for businesses and other employers Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so…
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Tax
December 29, 2018

Can a PTO contribution arrangement help your employees and your business?

As the year winds to a close, most businesses see employees taking a lot of vacation time. After all, it’s the holiday season, and workers want to enjoy it. Some businesses, however, find themselves particularly…
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Tax
December 19, 2018

6 last-minute tax moves for your business

Tax planning is a year-round activity, but there are still some year-end strategies you can use to lower your 2018 tax bill. Here are six last-minute tax moves business owners should consider: Postpone invoices. If…
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Tax
December 13, 2018

Year-End Tax Planning under the New Tax Act

The Tax Cuts and Jobs Act (TCJA) created many changes to the tax code. As a result, tax planning for 2018 will be different. Here is what you need to know as we approach the end…
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Tax
December 6, 2018

Tax reform expands availability of cash accounting

Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses…
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Tax
December 5, 2018

Buy business assets before year end to reduce your 2018 tax liability

The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them…
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