Restaurants, food stands, caterers, wineries, distillery owners and others are crossing their fingers that they can get a chance at the Restaurant Revitalization grants, a new $28.6 billion program for…
Many people started businesses in 2020, and many others plan to launch new ventures in 2021. Entrepreneurs often have questions about whether business expenses for a start-up can be deducted in…
Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals…
The CARES Act granted several valuable federal tax breaks for individuals and businesses. But most will expire at the end of 2020 or at the end of tax years that begin…
Today, many people sell homemade products online or work on some unincorporated sideline venture outside of their regular day jobs. Such activities can generate extra spending money. This can be…
Generous employers who want to provide financial assistance to struggling employees have an option thanks to Internal Revenue Code Section 139, which allows employers to make non-taxable qualified disaster relief…
The IRS has released final regulations and another round of proposed regs for the first-year 100% bonus depreciation deduction. The Tax Cuts and Jobs Act (TCJA) expanded the deduction to…
Summer is here, and you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine a business trip…
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…
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…