When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and disadvantages that may significantly affect your business operations and financial health. Here’s a detailed look at the pros and cons of operating as a C corporation. Tax implications A C corporation allows the […]
Operating as a C corporation: Weigh the benefits and drawbacks Read More »
Most businesses today understand all too well that they must craft a robust and varied benefits package to draw good job candidates and retain valued employees. But beyond basics such as health insurance and a retirement plan, there are so many options. Well, you can add one more to the list: fertility benefits. Recent surveys
Should your company offer fertility benefits? Read More »
The holiday season is here. During this festive season, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s a good time to review the tax rules associated with these expenses. Are they tax deductible by your business and is the value taxable to
Giving gifts and throwing parties can help show gratitude and provide tax breaks Read More »
One of the most appreciated fringe benefits for owners and employees of small businesses is the use of a company car. This perk results in tax deductions for the employer as well as tax breaks for the owners and employees driving the cars. (And of course, they enjoy the nontax benefit of using a company
A company car is a valuable perk but don’t forget about taxes Read More »
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these benefits. Here are examples of two types of benefits that employees generally can exclude from income: A no-additional-cost benefit. This involves a service provided to
Providing fringe benefits to employees with no tax strings attached Read More »
With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties again after a year of forgoing them due to the pandemic. It’s a good time to brush
Businesses can show appreciation — and gain tax breaks — with holiday gifts and parties Read More »
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 from $1 million) Phaseout: $2.55 million (up from $2.5 million) Income-based phase-ins for certain limits on the
Many tax-related limits affecting businesses increase for 2019 Read More »
The holiday season is a great time for businesses to show their appreciation for employees and customers by giving them gifts or hosting holiday parties. Before you begin shopping or sending out invitations, though, it’s a good idea to find out whether the expense is tax deductible and whether it’s taxable to the recipient. Here’s
When holiday gifts and parties are deductible or taxable Read More »
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