corporate | Connolly Steele

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How the new SECURE 2.0 law may affect your business

If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every...

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Separating your business from its real estate

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the...

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Outrageous real-life employee expense claims

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Making withdrawals from your closely held corporation that aren’t taxed as dividends

Do you want to withdraw cash from your closely held corporation at a minimum tax cost? The simplest way is to distribute cash as a...

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The tax implications of owning a corporate aircraft

If your business is successful and you do a lot of business travel, you may have considered buying a corporate aircraft. Of course, there...

Tax depreciation rules for business automobiles

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are...

Want to find out what IRS auditors know about your business industry?

In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the...

Possible tax consequences of guaranteeing a loan to your corporation

What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or...

Is an LLC the right choice for your small business?

Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your...

The deductibility of corporate expenses covered by officers or shareholders

Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind...

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