Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses
June 2, 2023
Keeping careful business records for meal and vehicle expenses can safeguard your tax deductions. Here are some DOs and DON’Ts.
4 ways corporate business owners can help ensure their compensation is “reasonable”
June 1, 2023
C corporation owners: To keep your compensation tax deductible, you need to ensure it’s “reasonable.” Otherwise, it could be deemed a dividend. Here are four steps to take.
Use the tax code to make business losses less painful
May 31, 2023
You may have a net operating loss for your business if your deductions for the year are more than your income for the year. Here are the basic rules.
Benefits of a living trust for your estate
May 30, 2023
You’ve probably heard that you should avoid probate in estate planning. But what does that mean and how is it done?
The tax rules for donating artwork to charity
May 24, 2023
If you donate a valuable work of art to a tax-exempt hospital, do you get the same tax deduction as if you donated the artwork to a tax-exempt art museum? Here’s the answer, along with the tax rules for donating art to charity.
4 tax challenges you may encounter if you’re retiring soon
May 17, 2023
Don’t ignore tax planning after you retire. Here are some of the tax implications of retirement.
