The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax...

Awards and settlements are routinely provided for a variety of reasons. For example, a person could receive compensatory and punitive...

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...

Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to...

The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting...

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has...

With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its...

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for...

If you’re fortunate enough to own a vacation home, you may want to rent it out for part of the year. What are the tax consequences? The...

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Keep in mind...

If you own a valuable piece of art, or other property, you may wonder how much of a tax deduction you could get by donating it to...

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more...

Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to...

Given the escalating cost of health care, there may be a more cost-effective way to pay for it. For eligible individuals, a Health...

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

Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the...

A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it...

As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly...

Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your benefit package, and...

If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of...