Personal Use of Company Vehicle Update
The IRS recently announced the inflation-adjusted maximum value of an employer-provided vehicle under the vehicle cents-per-mile rule and the fleet-average value rule. Employers can use the rules to value an…
Could your business benefit from the tax credit for family and medical leave?
The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and medical leave to their employees. It’s subject to numerous rules…
TCJA glitches: Lessons learned this tax season and more uncertainty to come
Many taxpayers (and accountants) are astonished by the errors in the Tax Cuts and Jobs Act (TCJA) and find themselves wondering when legislative fixes will be put in place. Adding…
Will leasing equipment or buying it be more tax efficient for your business?
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets. Although there’s no universal “right” choice, many…
Do You Know How to Pay Your Employees?
As you begin planning for your new business, are you fully aware of the payroll responsibilities you are about to take on? Payroll laws can be one of the most…
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…
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 the depreciation period. (Land isn’t depreciable.)…
A refresher on major tax law changes for small-business owners
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes.…
TCJA Changes Transportation Fringe Benefits for Businesses and Nonprofits
The Tax Cuts and Jobs Act of 2017 significantly reduced the ability of a business to deduct the cost of transportation fringe benefits provided to their employees, unless the annual…
Tax-free fringe benefits help small businesses and their employees
In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free…