Small Businesses: It may not be too Late to Cut Your 2019 Taxes

Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few strategies, including: Buying assets.Thinking about purchasing new or used heavy vehicles, heavy equipment, [...]

By |2019-12-18T18:39:48-05:00December 18th, 2019|Categories: Blog, Small Business Services, Tax|Tags: , , , |0 Comments

End of Year Tax Savings for Individuals

The Tax Cuts and Jobs Act (TCJA) brought many new rules for individual tax filers, and there are quite a few ways taxpayers can use these changes to their advantage. With the end of the year quickly approaching, it’s the [...]

Deducting Business Meal Expenses Under Today’s Tax Rules

In the course of operating your business, you probably spend time and money “wining and dining” current or potential customers, vendors and employees. What can you deduct on your tax return for these expenses? The rules changed under the [...]

By |2019-10-18T17:01:09-04:00April 15th, 2019|Categories: Blog, Tax|Tags: , , |0 Comments

Many Tax-Related Limits Affecting Businesses Increase for 2019

A variety of tax-related limits affecting businesses are annually indexed for inflation, and many have gone up for 2019. Here’s a look at some that may affect you and your business. Deductions Section 179 expensing: Limit: $1.02 million (up [...]

By |2020-01-03T19:21:39-05:00January 22nd, 2019|Categories: Blog, Tax|Tags: , , |0 Comments

Medical and Dental Expenses: What Can You Deduct?

Can you deduct medical and dental expenses? That's a complicated question. To start with, your deductions must exceed 7.5 percent of your adjusted gross income. And they have to fall into an IRS-approved category. Deductible medical expenses may include, [...]

By |2020-01-03T19:30:15-05:00January 15th, 2019|Categories: Blog, Tax|Tags: |0 Comments

Is there Still Time to Pay 2018 Bonuses and Deduct them on your 2018 Return?

There aren’t too many things businesses can do after a year ends to reduce tax liability for that year. However, you might be able to pay employee bonuses for 2018 in 2019 and still deduct them on your 2018 [...]

By |2020-01-03T19:45:38-05:00January 7th, 2019|Categories: Blog, Tax|Tags: , |0 Comments