2,076 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.
Page 45 of 87, newest first.
Wedding and event planning businesses face unique tax challenges because of the timing mismatch between collecting deposits (often 6-18 months before the.
US TaxA comprehensive year-end tax planning checklist covering equipment purchases, retirement contributions, estimated tax true-up, 1099 preparation.
US TaxThe most effective year-end tax strategies for small business owners: income deferral, expense acceleration, retirement plan contributions.
US TaxKeep tax returns for 7 years, employment records for 4 years, asset records until disposed + 3 years, and corporate records permanently.
US TaxThe IRS requires businesses to keep records that support the income and deductions reported on tax returns for the applicable statute of limitations.
US TaxIntellectual property (IP) has unique tax treatment depending on how it is created, acquired, and monetized. IP classification and tax treatment: | IP Type.
US TaxCash-method businesses can accelerate deductions by prepaying certain expenses before year-end. Under the 12-month rule (Reg.
US TaxBusiness travel expenses are deductible under IRC 162 when the trip requires an overnight stay away from the taxpayer's tax home.
US TaxBusiness travel is deductible when the trip is primarily for business, requires overnight stay.
US TaxThe trust fund recovery penalty makes responsible persons personally liable for unpaid employee withholding taxes.
US TaxThe trust fund recovery penalty under IRC 6672 is one of the most aggressive collection tools in the IRS arsenal. What constitutes the "trust fund" portion.
US TaxThe trust fund recovery penalty under IRC 6672 holds 'responsible persons' personally liable for the employee portion of payroll taxes (federal income tax.
US TaxThe IRS scrutinizes business owner compensation from two opposite directions depending on entity type. Reasonable compensation audit risks by entity type: |.
US TaxThree categories under IRC 280A: | Category | Rental Days | Personal Use Days | Tax Treatment | |----------|------------|------------------|--------------| | 1.
US TaxRenting your home for 14 days or fewer per year makes the income completely tax-free (the 'Masters exemption'). Above 14 days, the personal use vs.
US TaxBusiness owners choose between standard mileage rate (70 cents/mile in 2025) and actual expenses for vehicle deductions.
US TaxSelf-employed business owners who use a personal vehicle for business can deduct either the standard mileage rate or actual vehicle expenses.
US TaxBusiness vehicle deductions come in two methods: standard mileage (70 cents/mile in 2025, simpler) or actual expenses (gas, insurance, repairs.
US TaxVehicles over 6,000 lbs GVWR qualify for full Section 179 or bonus depreciation (no IRC 280F luxury auto limits).
US TaxBuy vs. lease tax comparison: Purchasing (depreciation method): - Passenger vehicles (under 6,000 lbs GVWR): subject to.
US TaxBusiness vehicles over 6,000 pounds GVWR (SUVs, trucks, vans) can be fully deducted in Year 1 using Section 179 (up to $31,300 SUV cap for 2025) plus.
US TaxThe wash sale rule (IRC 1091) disallows a loss deduction when substantially identical securities are purchased within 30 days before or after the sale.
US TaxMost business owners benefit from a CPA when revenue exceeds $50,000 or when the business has employees, an S-Corp, rental property.
US TaxThe WOTC provides a tax credit of $2,400-$9,600 per qualified employee hired from targeted groups including veterans, SNAP recipients, ex-felons.