Is your corporation eligible for the dividends-received deduction?
There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed...
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ConnollySteele
- Mar 21, 2022
- 2 min
Taking the opposite approach: Ways your business can accelerate taxable income and defer deductions
Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But...
ConnollySteele
- Mar 7, 2022
- 3 min
Does your business barter? Here are some facts you should know
In today’s economy, many small businesses are strapped for cash. They may find it beneficial to barter or trade for goods and services...
ConnollySteele
- Feb 2, 2022
- 3 min
The Ins and Outs of IRAs
Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed...
ConnollySteele
- Jan 26, 2022
- 2 min
Smooth sailing: Tips to speed processing and avoid hassles this tax season
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips...
ConnollySteele
- Jan 20, 2022
- 2 min
Numerous tax limits affecting businesses have increased for 2022
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown...
ConnollySteele
- Jan 18, 2022
- 3 min
Help safeguard your personal information by filing your 2021 tax return early
The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being...
ConnollySteele
- Dec 4, 2021
- 2 min
With year-end approaching, 3 ideas that may help cut your tax bill
If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are...
ConnollySteele
- Nov 30, 2021
- 3 min
Small businesses: There still may be time to cut your 2021 taxes
Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to...
ConnollySteele
- Oct 5, 2021
- 2 min
The tax score of winning
Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more...
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