Launching a new business brings tough decisions. And that holds true whether you’re a fledgling entrepreneur starting your first company or an experienced businessperson expanding into a second or third enterprise. Among the most important calls you’ll need to make is how to structure the start-up for tax purposes. For many business owners, electing S corporation […]
Why start-ups should consider launching as S corporations Read More »
The One Big Beautiful Bill Act (OBBBA), signed into law July 4, 2025, extends or enhances many tax breaks for businesses. But the legislation terminates several business-related clean energy tax incentives earlier than scheduled. For example, the Qualified Commercial Clean Vehicle Credit (Section 45W) had been scheduled to expire after 2032. Under the OBBBA, it’s available
There’s still time for businesses to benefit from clean energy tax breaks Read More »
Today’s employees have a wealth of information at their fingertips and many distractions competing for their attention. Maintaining focus and productivity can be challenging. One proven lever for promoting engagement is a performance-based bonus plan. When carefully structured, these plans acknowledge individual contributions while accelerating the company toward its strategic goals. However, if not optimally
Designing the right bonus plan for your business Read More »
If you have employees who travel for business, you know how frustrating it can be to manage reimbursements and the accompanying receipts for meals, hotels and incidentals. To make this process easier, consider using the “high-low” per diem method. Instead of tracking every receipt, your business can reimburse employees using daily rates that are predetermined
The 2025–2026 “high-low” per diem business travel rates are here Read More »
If you’re considering guaranteeing, or are asked to guarantee, a loan to your closely held corporation, it’s important to understand the potential tax consequences. Acting as a guarantor, endorser or indemnitor means that if the corporation defaults, you could be responsible for repaying the loan. Without planning ahead, you may face unexpected tax implications. A
The tax traps of personally guaranteeing a loan to your corporation Read More »
When you read the word “hygiene,” you may immediately think about the importance of washing your hands or brushing your teeth. But there’s another use of the term that every business owner should know: data hygiene. This refers to the ongoing process of ensuring that the information your company relies on is accurate, complete, consistent
What every business owner should know about data hygiene Read More »
Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance and tax savings. Good records can mean the difference between successfully defending a deduction and losing valuable tax breaks. A recent U.S. Tax Court decision underscores just how important this
Tax Court case provides lessons on best recordkeeping practices for businesses Read More »
The more things change, the more they stay the same. This age-old saying applies to many things, and one of them is fraud perpetrated against businesses by their employees. In fact, occupational fraud cost organizations about 5% of their revenue on average last year, according to the Association of Certified Fraud Examiners’ Occupational Fraud 2024: A
Occupational fraud still affects many businesses Read More »
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return. Here are some answers to questions you may have. What are the requirements? Although many cash transactions are legitimate, the IRS explains that the
Receive $10,000 in cash at your business? The IRS wants to know about it Read More »
If your business allows employees to perform their jobs under a hybrid work model, it’s not alone. Ever since the pandemic, many companies have sought to strike a balance between permitting some remote work while also requiring staff to come into the office (or another type of facility). Data released this year shows that, by
Businesses strive for balance in hybrid work models Read More »