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business taxes

How IRS Audits Work

February 1, 2023 By Christian Block CPA Leave a Comment

How IRS audits work

Audit anxiety is something nearly every taxpayer has in common.  But, have you ever considered how IRS audits actually work? The IRS processes … [Read more...] about How IRS Audits Work

Filed Under: business taxes, foreign tax issues, individual income taxes

If You Got Conned in ERC Scam

January 25, 2023 By Stephen Nelson CPA Leave a Comment

If you got caught in an ERC scam, take these steps to reduce the damage

You wondered at the time whether it was a scam, right? And now you regularly see news reports about ERC scams. Employee retention credit scams, that … [Read more...] about If You Got Conned in ERC Scam

Filed Under: business taxes, employee retention credit, New business

A Dozen Ways to Deduct Real Estate Losses

December 1, 2022 By Stephen Nelson CPA

Tricks for deducting real estate losses to save taxes

Tax law (and especially Section 469 of the Internal Revenue Code) mostly eliminates your ability to save big on taxes using real estate. That said, … [Read more...] about A Dozen Ways to Deduct Real Estate Losses

Filed Under: business taxes, Corporate taxation, entrepreneurship, individual income taxes, real estate

The Self-Rental Loophole

September 1, 2022 By Christian Block CPA

The self-rental loophole can produce big tax savings for small business owners.

Long ago, there was no tax code that differentiated ordinary income from passive income or ordinary losses from passive losses. Life was good for … [Read more...] about The Self-Rental Loophole

Filed Under: business taxes, Corporate taxation, real estate

Inflation Reduction Act: What Every Real Estate Investor Should Know

August 10, 2022 By Beth Nelson CPA

On Sunday morning, the U.S. Senate passed the Inflation Reduction Act (H.R. 5376). Assuming the House passes an identical bill this Friday (and Nancy … [Read more...] about Inflation Reduction Act: What Every Real Estate Investor Should Know

Filed Under: business taxes, Corporate taxation, Inflation Reduction Act, investment, real estate, Strategy

Don’t Forget About The Work Opportunity Tax Credit!

June 1, 2022 By Christian Block CPA

Work opportunity tax credit provides big tax savings for employers

The Work Opportunity Tax Credit, or WOTC for short, gets little attention these days.  COVID relief programs such as the Paycheck Protection Program … [Read more...] about Don’t Forget About The Work Opportunity Tax Credit!

Filed Under: business taxes, employee retention credit, work opportunity tax credit

199A Deduction Errors Cost Small Businesses Big Refunds

May 16, 2022 By Stephen Nelson CPA

Fixing 199A Deduction Errors is awkward but a good idea.

The Section 199A deduction lets business owners avoid federal income taxes on that last twenty percent of their business income. Which sounds … [Read more...] about 199A Deduction Errors Cost Small Businesses Big Refunds

Filed Under: business taxes, Section 199A

Why Profit Distributions Usually Don’t Get Taxed

March 1, 2022 By Christian Block CPA

How Pass-through Profit Distributions Get Taxed

We encounter a common misconception from flow-through business owner clients  every year and I want to try and clear the air. That misconception? … [Read more...] about Why Profit Distributions Usually Don’t Get Taxed

Filed Under: Bookkeeping, business taxes, individual income taxes, management

Tax Strategy Tuesday: Accelerate Depreciation Strategy

January 11, 2022 By Beth Nelson CPA

accelerated depreciation tax strategy blog post

For today’s Tax Strategy Tuesday, I’ll be sharing a trick landlords and small business owners with real estate and capital equipment (like vehicles … [Read more...] about Tax Strategy Tuesday: Accelerate Depreciation Strategy

Filed Under: business taxes, individual income taxes, personal finance, real estate, Tax Strategy Tuesday

16 Ways of Qualifying for Employee Retention Credits

January 3, 2022 By Stephen Nelson CPA

Employers have 16 ways of qualifying for employee retention credits

For the last few weeks, we've been blogging on Tuesdays about tax strategies entrepreneurs and active investors can use. This week, however, a break … [Read more...] about 16 Ways of Qualifying for Employee Retention Credits

Filed Under: business taxes, COVID-19, employee retention credit

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Featured Posts

Lottery tax planning can save millions

Lottery Tax Planning for a Billion Dollar Drawing

Okay. This is silly. You’re probably not going to win. But just for fun, let’s talk about lottery tax planning for one of those giant Power Ball or … [Read More...] about Lottery Tax Planning for a Billion Dollar Drawing

Maybe you shouldn't retire?

Should Entrepreneurs and Small Business Owners Retire Late? Or Even Skip Retiring?

Recently I found myself talking with friends about a crazy idea. The idea that entrepreneurs should retire late. Or maybe even just not retire. So … [Read More...] about Should Entrepreneurs and Small Business Owners Retire Late? Or Even Skip Retiring?

long-term trends in long-maturity interest rates

Rethinking Retirement for Lower Real Rates of Return

The recent research paper, “Long-run Trends in Long-maturity Real Rates 1311-2021,” from economists Kenneth S. Rogoff, Barbara Rossi and Paul … [Read More...] about Rethinking Retirement for Lower Real Rates of Return

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