When deciding whether to lease or buy equipment or other fixed assets, there are a multitude of factors to consider, including tax implications.
Author: Froehling Anderson
How to Boost Cash Flow with a Cost Segregation Study
If your business is planning to buy, build or substantially improve real property, a cost segregation study can help you accelerate depreciation deductions, reducing your taxes and boosting your cash flow.
Is R&D Expensing Gone for Good? What You Should Know
For decades, Congress has recognized that companies engaging in research shouldn’t be penalized. Since 1954, businesses have been able to write off R&D expenses in the year they incur them, without having to amortize the spending over time.
First-year bonus depreciation and Sec. 179 expensing – Watch out for the pitfalls
Many companies are eligible for tax write-offs for certain equipment purchases and building improvements. These write-offs can do wonders for a business’s cash flow, but whether to claim them isn’t always an easy decision.
Working Remotely Can Be Taxing
As businesses continue to embrace remote work, it’s crucial to grasp the state tax implications, especially if your employees are working from a different state than your business’s location. Here are some key considerations:
Are you liable for “nanny taxes”?
If you employ household workers — which may include nannies, babysitters, housekeepers, cooks, gardeners, health care workers and other employees — it’s important to understand your tax obligations, commonly referred to as “nanny taxes.”
IRS Tax Tips for Small Business
With the end of the year within mere days, a lot of people’s minds are on 2021—the economic stability and market forecast, the change in presidential administration, the future of their own business, and tax season.
