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7 Common Payroll Risks for Small to Midsize Businesses

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If your company has been in business for a while, you may not pay much attention to your payroll system so long as it’s running smoothly. But don’t get too […]

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Scrupulous Records and Legitimate Business Expenses are the Key to Less Painful IRS Audits

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If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully record expenses to claim […]

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Business Owners, Your Financial Statements are Trying to Tell You Something

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Business owners are commonly and rightfully urged to regularly generate financial statements in compliance with Generally Accepted Accounting Principles (GAAP). One reason why is external users of financial statements, such […]

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Coordinating Sec. 179 Tax Deductions with Bonus Depreciation

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Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year Section 179 depreciation deductions […]

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President Biden’s Proposed Budget Highlights His Tax Agenda

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President Biden has released his proposed budget for the 2025 fiscal year, including numerous tax provisions affecting both businesses and individual taxpayers. While most of these provisions have little chance […]

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