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Bad Debt Deductions for Businesses

Struggling with uncollectible debts? This article explains how to manage bad debts, including how to report them, track allowances, and handle unexpected repayments—all while staying compliant with tax rules.
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Timeframe for IRS audits

Ever wondered how long you could be subject to an IRS audit? Understanding the timeframe for IRS audits, the statute of limitations, and the circumstances that may extend this period is crucial for maintaining proper tax records and ensuring compliance.
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Corporate Estimated Tax

You want your business to pay the minimum estimated tax amount without triggering a penalty for underpayment. Keep in mind that the next payment deadline is September 16, 2024.
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Financial Mistakes Startups Should Avoid

Launching a startup is an exciting venture, but it's easy to overlook some crucial financial aspects. Financial mistakes can make or break your startup's success. Learn how to avoid these common pitfalls and build a thriving business.
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Employee Retention Credit Processing

The IRS is making significant strides in processing Employee Retention Credit claims. Gain a deeper understanding of these recent updates and their implications for your business.
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Expanded Overtime Rules

Discover how the Department of Labor's recent expansion of overtime rules could impact your business. This article discusses the key changes and implications of the new regulations.
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Preparing for Post-TCJA

Preparing for post-TCJA corporate tax changes in 2026 and beyond should be explored now. This article clarifies the complex tax landscape and offers valuable foresight for businesses.
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2025 Amounts for Health Savings Accounts

The IRS recently released the 2025 Health Savings Account (HSA) amounts, which have been adjusted for inflation.
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Tax Considerations of Adding a New Partner

There are several financial and legal implications when adding a new partner to a partnership. Although the entry of a new partner may seem simple, you should plan properly to avoid tax problems.
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FTC Ban on Noncompete Agreements

A new FTC ruling has made noncompete agreements unenforceable for most employees, with the aim of fostering competition and job mobility. Learn about the ruling and its potential impact on your business in this article.
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Misrepresentation of Wellness and Nutrition Expenses

The IRS has issued a warning against companies misrepresenting personal wellness and nutrition expenses as medical expenses. Understand the potential tax implications and how to use your health spending accounts responsibly.
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Maximize Depreciation of Newly Acquired Assets

Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can help achieve this goal: first-year Section 179 depreciation deductions and first-year bonus depreciation deductions.
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Cash and Accrual Accounting Methods

Businesses have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes.
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Identity Theft Scams – Protect Yourself

Identity theft occurs when someone wrongfully obtains and uses another person's personal information, such as their name, Social Security number, credit card accounts, or other confidential data, and uses it to commit financial fraud or engage in other criminal activities while impersonating the victim.
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Company Car and Taxes

For many employees, the use of a company car is a cherished perk. But before you hand over the keys, make sure you understand the rules that apply to a company car and taxes.
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