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Business Tax

Business Meals are Deductible Again: Here’s What You Need to Know

March 15, 2021 by admin

Business Meals are Deductible Again: Here’s What You Need to Know

The Consolidated Appropriations Act of 2021 brings a favorite business tax deduction back to life. The so-called “three-martini lunch” is in vogue once again; however, not everyone is happy about it. So, what does this mean for businesses? Read on to learn more about the deduction and the associated pros and cons. What is the […]

Filed Under: Business Tax

“Extender” Legislation Impacts Individuals and Small Businesses

January 20, 2021 by admin

“Extender” Legislation Impacts Individuals and Small Businesses

The federal spending package that was enacted in the waning days of 2019 contains numerous provisions that will impact both businesses and individuals. In addition to repealing three health care taxes and making changes to retirement plan rules, the legislation extends several expired tax provisions. Here is an overview of several of the more important […]

Filed Under: Business Tax

5 Ways to Lower Your SUTA Tax Rate

September 28, 2020 by admin

5 Ways to Lower Your SUTA Tax Rate

An employer’s SUTA tax rate is susceptible to fluctuation. If yours is escalating, contrary to popular belief, you actually might be able to reduce it! Check out these five strategies to curb your SUTA tax rate. Because the State Unemployment Tax Act – or SUTA – tax is mandatory, you may think you have no […]

Filed Under: Business Tax

Business Start-Up Costs — What’s Deductible?

June 26, 2020 by admin

Business Start-Up Costs — What’s Deductible?

Launching a new business takes hard work — and money. Costs for market surveys, travel to line up potential distributors and suppliers, advertising, hiring employees, training, and other expenses incurred before a business is officially launched can add up to a substantial amount. The tax law places certain limitations on tax deductions for start-up expenses. […]

Filed Under: Business Tax

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