The holidays are right around the corner. In the weeks leading up to holiday breaks, many companies will treat their employees, vendors and other associates to perks for another great year of working together. However, new changes to the Tax Cuts and Jobs Act (TCJA)...
Business Tax
Your business structure has an impact on your taxes
Starting a business is an exciting, daunting task. What begins as your vision for a company soon becomes a reality. However, that reality requires significant decisions that have unseen consequences. Determining business owner responsibilities An essential step of any...
Bonus depreciation available to business owners
We’ve written extensively on the potential impacts of the new Tax Cuts and Jobs Act. While it’s true that we know your 2018 tax situation could look different compared to last year, not everyone is sure what it will look like on an individual level. If you are a...
Is your company prepared for the new tax law?
According to the Tax Foundation, the Tax Cuts and Jobs Act of 2017 (TCJA) will result in approximately one trillion dollars worth of federal revenue and economic growth. As a business owner, the potential for growth provides the incentive to maximize your company's...
Business or hobby: Here’s how the IRS decides
From arts and crafts to sailing, woodcarving or horse breeding, we all have hobbies in which we enjoy. Some of these hobbies you can use to make a little extra money on the side, in addition to finding pleasure in the activity itself. Sometimes these hobbies can...
The link between taxes and nexus
In business, we are surrounded with buzzwords that might mean a lot to us, but outside of your industry, it could seem like you're speaking a foreign language. One word for you to consider today is "nexus." This term does not apply to one industry, but rather to any...
What Are the Tax Implications When Spouses Are in Business Together?
Spouses can be more than life partners. Spouses can also be business partners, or have an employer-employee relationship. Spouses involved in business together must be mindful of the various tax considerations. Spouses who are in business together and have not...
Nursing Homes: Executive Order Warning
Hello loyal readers! Executive Order #38 is the toast of the town in New York these days as it affects anyone that receives state funded revenue. You heard me right, ANYONE, not just the Nursing Home owners I singled out, so this is actually pretty important. This...