Professional Services

Categories

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.
More Info »

Exploring Holding Companies

Holding companies offer benefits such as tax efficiency, liability protection, and privacy, but they also present challenges and complexity. This article provides an overview of what holding companies are, how they work, and their pros and cons.
More Info »

Maximize the QBI Deduction

The qualified business income, QBI deduction, is available to eligible businesses through 2025. After that, it’s scheduled to disappear unless Congress acts to extend it. So make the most of the tax break while it’s still on the books.
More Info »

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.
More Info »

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.
More Info »

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.
More Info »

2024 Inflation-Adjusted Rates

The IRS has announced various federal inflation-adjusted rates.  Here’s a rundown of the amounts that are most likely to affect small businesses and their owners.
More Info »

2024 Q1 Tax Deadlines

In the first quarter of 2024, businesses face several tax-related deadlines. Here are some key due dates and obligations.
More Info »

Cost Segregation Study

A cost segregation study might allow you to accelerate depreciation deductions on certain items, reducing taxes and boosting cash flow. Under current law, the potential benefits of a cost segregation study are now even more significant than they were a few years ago.
More Info »

Minnesota Employment Law Changes with Natolie Hochhausen

PODCAST: This episode is a must-listen for business owners, HR professionals, and employees seeking clarity on the recent MN legislative changes.
More Info »

M&A Transactions & Taxes

If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law.
More Info »

Spouse-Run Business

Do you and your spouse operate a profitable unincorporated small business? If so, a spouse-run business is generally classified as a partnership and can face some challenging tax issues.
More Info »

2023 Depreciation Adjustments

Inflation has some beneficial side effects for business owners. One is that the 2023 depreciation adjustment amounts increases the possible tax breaks your business.
More Info »

Sec. 199A Deduction

The Sec. 199A deduction is a potentially valuable tax break if your manufacturing company operates under one of the applicable pass-through entity types such as an S corporation, partnership or limited liability company, and you meet certain eligibility requirements.
More Info »

Guaranteeing a Loan

If you are guaranteeing a loan to your corporation and it goes into default, there may be tax consequences. You don’t want to be caught unaware.
More Info »
We Value Your Privacy

This site may use cookies to store information on your computer. Some are essential to make our site work and others to improve the user experience. By using this site, you consent to the placement of these cookies and accept our privacy policy.