2,121 plain-English guides on cross-border moves, US and Canadian returns, and small-business money. Each one ends in what to do next, and says when a written Diagnostic is the smarter first step.
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Business insurance premiums are among the most straightforward tax deductions available, yet they're often miscategorized or underreported.
Small Business & BookkeepingWhen a business owner uses a personal vehicle for both business and personal purposes, only the business-use percentage is deductible.
Small Business & BookkeepingA checklist of 40+ commonly missed deductions for small business owners: vehicle, home office, insurance, retirement, health premiums, and more.
Small Business & BookkeepingBusinesses can deduct up to $5,000 in startup costs and $5,000 in organizational costs in the first year. Startup cost rules: IRC 195: Startup costs -.
Small Business & BookkeepingThe first $5,000 of startup costs can be deducted in Year 1 (phases out between $50,000 and $55,000 in total startup costs).
Small Business & BookkeepingThe tax code allows employers to provide certain benefits to employees completely tax-free, meaning no income tax, no FICA, and no FUTA.
Small Business & BookkeepingCertain fringe benefits are tax-free to employees and deductible to the employer under IRC 132. What small business owners can provide without tax.
Small Business & BookkeepingIRC 368 defines the corporate reorganizations, Types A through G, in which shareholders can swap stock without recognizing gain, and what each type requires.
Small Business & BookkeepingIf a buyer pays you in its own stock through a qualifying merger, your gain waits until you sell the shares. Cash is taxed now, and boot in a stock deal is taxed up to its value.
Small Business & BookkeepingTips are fully taxable income. Employees must report tips to the employer (Form 4070). Employers must withhold income tax and FICA on reported tips.
CFO & AdvisoryBuying or selling a business creates fundamentally different tax consequences depending on whether the transaction is structured as an asset purchase (the.
CFO & AdvisoryFiling for bankruptcy does not eliminate tax obligations, and in many cases creates new ones. Bankruptcy chapters compared.
Small Business & BookkeepingBartering is fully taxable at fair market value even when no cash changes hands. How small businesses report barter income and avoid IRS penalties.
Small Business & BookkeepingBartering, the exchange of goods or services without using cash, is fully taxable under the Internal Revenue Code. Covers key rules, filing requirements,.
CFO & AdvisoryBankruptcy triggers specific tax consequences that most business owners do not anticipate. COD income exclusions (IRC 108).
CFO & AdvisoryClosing a business triggers a series of tax events that many owners do not anticipate. Dissolution checklist by entity type.
Small Business & BookkeepingBusiness gift deductions are limited to $25 per recipient per year under IRC 274(b). Business gift, meal, and entertainment deduction rules (current.
Small Business & BookkeepingInsurance proceeds for property damage are taxable only to the extent they exceed the adjusted basis of the destroyed property.
Small Business & BookkeepingBusiness insurance proceeds receive different tax treatment depending on the type of insurance. Tax treatment by insurance type.
Small Business & BookkeepingBusiness insurance proceeds have different tax treatments depending on the type of policy and how the proceeds are used.
Small Business & BookkeepingBusiness loan proceeds are not taxable income. Interest on business loans is deductible under IRC 163. This guide covers the key tax rules for borrowing.
Small Business & BookkeepingBusiness loan proceeds are NOT taxable income (you have to pay them back). Business loan interest is deductible as a business expense.
Small Business & BookkeepingBusiness loan proceeds are NOT taxable income. Interest on business loans is deductible. Forgiven debt IS taxable income (with exceptions).
Small Business & BookkeepingBusiness debt creates multiple tax implications that owners frequently misunderstand: loan proceeds are not income, loan repayments are not deductions.