Starting a new business can be a hectic, exciting and expensive time. Entrepreneurs are often unaware that many expenses incurred by start-ups can’t be deducted right away. Some may have to be amortized over time …Read More

 

Buying or selling a business may be the most important transaction you ever make. So it’s important to seek professional tax advice as you negotiate. After a deal is done, it may be too late …Read More

 

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 …Read More

 

Abstract:   Using a calendar year as a company’s tax year is often the simplest approach. But for businesses whose primary operating season doesn’t fall neatly within a single calendar year, choosing a fiscal year end …Read More

 

Too often, businesses allocate all or most of a building’s acquisition or construction costs to real property, overlooking opportunities to allocate costs to shorter-lived personal property or land improvements and boost current tax deductions. The …Read More

 

Ultimately, people typically prefer to do business with people they know, like and trust. But related-party transactions can provide opportunities for individuals to act in a way that creates confusion between the concerns of the …Read More

 

There are two valuable depreciation-related tax breaks that can potentially reduce your 2017 taxes, if you acquire and place in service qualifying assets by the end of the tax year. Tax reform legislation has been …Read More

 
Wade Christensen

New mortgage interest deduction limit for unmarried co-owners

Many taxpayers take advantage of the itemized mortgage interest tax deduction on the mortgage interest paid in a calendar year on their first and second residences.  Until recently, the amount of interest a taxpayer can …Read More