So the first thing I need to say, before you jump to any wrong conclusions, is this: This blog is only about the nuts and bolts of you running a small … [Read more...] about Will Obamacare Penalties Kill Your Small Business?
Using the Delphi Method for Small Business Problem Solving
Over the past year or so, something pretty remarkable, weird even, has gone on in a LinkedIn group I happen to be a member of. Note: The group name … [Read more...] about Using the Delphi Method for Small Business Problem Solving
Making Shareholder Distributions Look Reasonable to an IRS Agent
S corporation shareholder-employees definitely need to make sure their salaries look reasonable. That’s the key point you want to take away from the … [Read more...] about Making Shareholder Distributions Look Reasonable to an IRS Agent
Why You Should Extend Your Tax Return
We’ve been scurrying around the last week or so, trying to finish up individual taxpayers’ tax returns. But can I share a tax accounting secret … [Read more...] about Why You Should Extend Your Tax Return
Five Best Small Business Tax Loopholes
About this time every tax season, as the April 15 deadline fast approaches, newspapers and magazines often run articles about the best … [Read more...] about Five Best Small Business Tax Loopholes
Are You Losing Money By Using Sec. 179 Depreciation?
If you've been in business for long, you probably know about the Sec. 179 election you can use to save taxes. Though you typically can’t use Sec. … [Read more...] about Are You Losing Money By Using Sec. 179 Depreciation?
Should You Use an S Corporation for a Sideline or Part-time Business?
Pretty regularly, people come to us for help with an S corporation they've already set up. And that’s fine. We love helping small businesses. And … [Read more...] about Should You Use an S Corporation for a Sideline or Part-time Business?
Partial Dispositions and the New Tangible Property Regulations
The new tangible property regulations in effect for 2014 and later years mostly frustrate tax accountants and mostly confuse small businesses and real … [Read more...] about Partial Dispositions and the New Tangible Property Regulations
Revenue Procedure 2015-20 a Face Punch for Tax Accountants
Let’s get this out there first: The IRS had created a crazy situation. They’d changed the rules about how businesses and investors should account for … [Read more...] about Revenue Procedure 2015-20 a Face Punch for Tax Accountants
Are You Kidding Me? An Update on the TPR Accounting Changes Mess
I can't believe it. I really can't. After years of fiddling-faddling with the regulations for tangible property accounting—including lengthy … [Read more...] about Are You Kidding Me? An Update on the TPR Accounting Changes Mess