Small Business Owners Still have Time to Set Up a SEP Retirement Plan for Last Year

Are you wishing you’d set up a retirement plan for your small business for 2018? Believe it or not, you may still be able to do so, and also reduce your 2018 tax liability! Contribution

Leasing Equipment vs. Buying Equipment for your Business

When deciding whether to lease or buy equipment or other fixed assets, there are a multitude of factors to consider, including tax implications. Pros and Cons of Leasing From a cash flow perspective, leasing can

Reporting Stock Compensation Paid to Non-employees

Good news for businesses that pay contractors and consultants with stock or stock options: The accounting rules for stock-based compensation have been simplified. Under recent guidance issued by the Financial Accounting Standards Board (FASB), they now

Home Office Deductions: Actual Expenses vs. the Simplified Method

Business owners may be able to save tax with the home office deduction. But will you save more by claiming actual expenses or using the simplified method? Basics of the Deduction In general, you’ll qualify

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Auditing Cashless Transactions

Who pays with cash anymore? Many customers prefer electronic payment methods, such as credit cards, PayPal, Venmo or even Bitcoin. But modern forms of payment require a modern audit approach. Cashless transactions require the exchange of

What LLC Members Need to Know About Self-employment Tax

Limited liability company (LLC) members may be subject to back taxes and penalties if they underpay self-employment tax. Find out if your business could be at risk. SE Tax Background Self-employment income is subject to

C Corporation Tax Truths

Most C corporations are seeing a significant tax cut under the Tax Cuts and Jobs Act (TCJA). But there are still certain tax vulnerabilities for these entities that haven’t changed much. Check out some of

What to Consider When Filing your 2018 Tax Return

Enhanced depreciation-related tax breaks for certain business real estate investments, such as qualified improvement property, may offer substantial savings when you file your 2018 tax return. Here's what you need to know. Section 179 expensing

Annual Inflation Adjustments Affecting Businesses in 2019

Do you know what the Section 179 expensing limit is for 2019? Or how much you can allow your employees to contribute to their 401(k) plans this year? Find out these amounts and other annual

AGN Global Survey: AI and the Entrepreneur

The world is musing over the potential impact of Artificial Intelligence (AI). Forrester predicted “A greater than 300% increase in investment in artificial intelligence in 2017”, and Sundar Pichai CEO of Google wrote in 2016

Possibility of Larger Deductions for Business Miles this Year

Businesses generally can determine their vehicle expense deductions either by calculating the actual expenses or using the IRS’s standard mileage rate, which has increased for 2019. Your business may be able to claim a larger

FASB Expands VIE Exception for Private Companies

Private companies have a good reason to celebrate this New Year: The FASB recently updated its guidance to allow them to opt out of the complicated rules for consolidating variable interest entities (VIEs). Consolidating financial

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