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Intangible assets: How must the costs incurred be capitalized?
These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so...
ConnollySteele
Nov 28, 20222 min read


Year-end giving to charity or loved ones
The holiday season is here and many people plan to donate to their favorite charities or give money or assets to their loved ones before...
ConnollySteele
Nov 25, 20222 min read


Is your business closing? Here are your final tax responsibilities
Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration,...
ConnollySteele
Nov 21, 20222 min read


How savings bonds are taxed
Series EE Bonds dated May 2005 and after earn a fixed rate of interest. Bonds purchased between May 1997 and April 30, 2005, earn a...
ConnollySteele
Nov 16, 20223 min read


Computer software costs: How does your business deduct them?
These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer...
ConnollySteele
Nov 14, 20222 min read


Inflation means you and your employees can save more for retirement in 2023
How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently...
ConnollySteele
Nov 9, 20222 min read


Adopting a child? Bring home a tax break too
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit...
ConnollySteele
Nov 9, 20223 min read
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