If you have employees, you must withhold their 6.2 percent share of the Social Security (OASDI) tax from their wages up to an annual wage

It’s time to examine your existing business and personal (yes, personal) cars, SUVs, trucks, and vans for some profitable year-end business tax deductions. In this

Do you need a replacement business car, SUV, van, or pickup truck? Do you need tax deductions this year? If you answered yes to both

If you have children under the age of 18 and you file your business tax return as a proprietorship or partnership, you can find big

The purpose of this article is to get the IRS to owe you money.  Of course, the IRS is not likely to cut you a

 How do you avoid losing money by making the wrong choice? Here’s one way to see the issue: Say you have seven employees who now

Are you thinking about starting a new business? If so, congratulations. We know it can, and probably will, be an exciting ride. But like many

Suppose you just received that lovely letter from the IRS telling you that you are the subject of an IRS audit. What one record receives

With the COVID-19 pandemic still going on, you may be spending more time working from your home office. You may have taken some extra rooms

Do you operate your business as an S or a C corporation?

Do you drive a vehicle titled in your personal name for corporate business?

Beware. The Tax Cuts and Jobs Act (TCJA) changed the rules for tax years 2018-2025.

Before the TCJA, you had to pay attention to the use of your personal vehicle for corporate business in order to avoid losing deductions to the 2 percent miscellaneous itemized deduction rule and the alternative minimum tax.

Cash is king, especially during the worst recession since the 1930s. The hugely popular federal Paycheck Protection Program (PPP) that paid forgivable loans to millions

Good Faith at the Time Question: What are your thoughts on the repercussions for business owners who acted in good faith based on the information available