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The latest news and advice for your business + personal financial needs.
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ConnollySteele
Dec 30, 20202 min read
Drive more savings to your business with the heavy SUV tax break
Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind. A cap on...


ConnollySteele
Dec 12, 20202 min read
The QBI deduction basics and a year-end tax tip that might help you qualify
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is...


ConnollySteele
Nov 28, 20202 min read
Why do partners sometimes report more income on tax returns than they receive in cash?
Partnerships and partners are taxed differently than corporations. In some cases, partners may be taxed on more partnership income than...


lizcarlson984
Nov 28, 20202 min read
Are scholarships tax-free or taxable?
COVID-19 is changing the landscape for many schools this fall. But many children and young adults are going back, even if it’s just for...


ConnollySteele
Nov 28, 20202 min read
File cash transaction reports for your business — on paper or electronically
Does your business receive large amounts of cash or cash equivalents? You may be required to submit forms to the IRS to report these...


ConnollySteele
Nov 28, 20202 min read
The tax implications of employer-provided life insurance
Does your employer provide you with group term life insurance? If so, and if the coverage is higher than $50,000, this employee benefit...


ConnollySteele
Nov 28, 20203 min read
What happens if an individual can’t pay taxes
Tax liabilities don’t go away if left unaddressed. Here’s a look at what happens in the event you (or someone you know) can’t pay taxes...
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