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?
business taxes
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
Why New Unit of Property Rules Are Important
2/17/2015 Update: Information about our e-book, which has been updated for Revenue Procedure 2015-20, appears at the bottom of page. For 2014 … [Read more...] about Why New Unit of Property Rules Are Important
How to Prepare Form 3115 for the New Tangible Property Regs
2/17/2015 Update: Information about our e-book appears at the bottom of page—and that ebook has been updated to reflect Revenue Procedure 2015-20. You … [Read more...] about How to Prepare Form 3115 for the New Tangible Property Regs