2018 Tax Changes for Small Businesses

2018 Tax Changes for Small Businesses When it comes to taxes, there have been a lot of rumors and speculations in the past year regarding what will change. At the close of the tax year, it is hard to know…

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Can a Business Fully Deduct a “Luxury” Vehicle?

Can a Business Fully Deduct a “Luxury” Vehicle? The Internal Revenue Service provides criterion and regularly updated tables as guides for business vehicle deductions. The deductibility of a vehicle used for business purposes is subject to various limitations and rules.  The examples…

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Are CPA’s Solely Tax Gurus?

Are CPA’s Solely Tax Gurus? The simple answer is no.  Certified Public Accountants (CPA) are much more than just tax gurus. These professional accountants are trusted business advisors whose services are only limited by the expertise and experience of each…

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Entertainment gifts meals

Entertainment, Meals, and Gift Expenses – Tax Deductible This can be a confusing area for business owners and is often misunderstood.  In an effort to help business owners to plan ahead for the 2014 tax year, the focus will be…

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Taxable Compensation in Disguise

Many small businesses treat their employees like family (for many, that’s because they are indeed family!) So, sometimes the owners forget to withhold income taxes on compensation that the IRS deems taxable. Since taxes were not withheld, many employees would…

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