Can you deduct the costs of a spouse on a business trip?
February 23, 2022
If you own your own business, the rules for deducting a spouse’s travel costs are very restrictive. Here are the rules.
Married couples filing separate tax returns: Why would they do it?
February 16, 2022
In general, married couples who file jointly save more money on taxes than those who file separate returns. However, there are situations when filing separately is a better option.
Did you give to charity in 2021? Make sure you have substantiation
February 9, 2022
If you’re deducting a charitable contribution on your tax return of $250 or more, you need a written acknowledgment from the charity. What if you haven’t yet received a letter for a charitable donation you made in 2021? Here are the rules.
Important tax aspects of operating your business as a sole proprietor
February 8, 2022
Many small businesses operate as sole proprietorships. Here are eight tax issues involved in operating as this entity.
Keeping meticulous records is the key to tax deductions and painless IRS audits
February 1, 2022
A careful approach to keeping business records can protect your tax deductions and help make an IRS audit much less difficult. Here are two cases to illustrate some of the issues involved.
Numerous tax limits affecting businesses have increased for 2022
January 21, 2022
How much can your employees contribute to 401(k) plans this year? How much will your business be able to deduct for business meals, driving expenses and equipment in 2022? Here are the answers to these and other questions about tax inflation adjusted amounts and other changes affecting businesses.
