End-of-Year Tax Planning Ideas for Small Business Owners
As we approach the last few months of the calendar year, it’s time to start thinking about ways to reduce your small business taxes. Deferring income and accelerating deductions to minimize taxes—the standard year-end approach—will likely give your business the...
Love eating out? Don’t Forget to Deduct 100% of Business Meals in 2022
The tax deductibility of some meals and entertainment can be exciting when starting a business, but it varies from situation to situation. The Consolidated Appropriations Act changed how tax-deductible pricey steak dinners are for the 2021 and 2022 tax years. Deduct...
Would you like to terminate or lower your profit-sharing agreement with the IRS?
Are you a business owner? How would you like to terminate or lower your profit-sharing agreement with the IRS? Most small business owners OVERPAY in taxes – are you? You and I know that the cold, hard truth is that most small business owners and entrepreneurs...
Don’t Miss The 09/15 Corporate And Partnership Income Tax Deadline
Failure-to-File Penalties for S Corps and Partnerships Are Costly Generally, tax penalties are assessed based on the amount of tax owed. However, S corporations and partnerships can be assessed “failure-to-file” penalties even if the entity has no taxable...
