Understand the Tax Ramifications of Selling or Trading Business Property
Anytime you dispose of business property, there’s a tax consequence based on the gain or loss from the transaction. The first step is to calculate the adjusted basis of the…
Know the Rules for Business Meals
For 2021 and 2022, your Uncle Sam has increased the tax deduction for business meals from 50% to 100% for food and beverages provided by a restaurant – including the…
If Your Spouse Joins Your Business Trip, Is it Tax Deductible?
If you’re self-employed and travel for business, your spouse might travel with you. Are their travel expenses tax deductible? The short answer? Probably not, unless your spouse is an employee…
Good Records Keep Your Business Out of Trouble
To run a successful business, you need to focus on more than just day-to-day operations. It’s also critical to pay attention to all aspects of your business – sales &…
What are the Rules for Employee Business Travel?
Business travel has substantially decreased over the past couple of years due to the pandemic, but from time to time, employees still need to travel for work-related reasons. Maybe it’s…
The Ins and Outs of Owning a Corporate Airplane
If you travel a lot for business and have been considering the purchase of your own aircraft, you’ll want to be aware of the basic tax rules: In most cases,…
Are Target Date Funds Right for You?
A target date fund (TDF) is a mutual fund or exchange-traded fund made up of multiple underlying investments designed to meet an investor’s future financial goal, such as retirement or…
Tips on Financing for Your Business
Whether pandemic-related or not, struggling businesses look for financial assistance in the form of affordable conventional loans. And some profitable businesses may benefit from refinancing to more favorable terms on…
Tax Consequences of Investing in Collectibles
Are you an avid collector of a specific item, such as trading cards, rare coins or antique toys? Not only can collecting be an enjoyable hobby, but it also can be…
What You Need to Know About the Restaurant Revitalization Fund (RRF)
Program Details The Restaurant Revitalization Fund (RRF) will provide grants of $28.6 billion to restaurants and bars that experienced lost revenue in 2020 as compared to 2019. Organizations with fewer…