Business Interest Deduction

What’s the best accounting method route for business tax purposes?

Accounting, Accrual Method of Accounting, C Corporation, Cash Method of Accounting, Farming Businesses, Federal Income Tax, S Corporation, Small Business, Small Business Owners, Small Business Tax Tips / Douglas Freeman

Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes. The cash method often provides significant tax benefits for eligible businesses, though some may be better off using the accrual method. Thus, it may be prudent for your […]

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Haven’t filed your 2019 business tax return yet? There may be ways to chip away at your bill

(ATI) Adjusted Taxable Income, (CARES ACT), COVID-19, Depreciation, Net Operating Loss (NOL), Qualified Improvement Property (QIP), Small Business, Tax Cuts and Job Acts (TCJA) / Douglas Freeman

The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment and filing deadlines that otherwise would have fallen on or after April 1, 2020, and before July 15. Retroactive COVID-19 business relief. The Coronavirus Aid, Relief and Economic Security (CARES) Act, which passed earlier

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