SMALL BUSINESS

/SMALL BUSINESS

SHOULD A BUSINESS PURCHASE FIXED ASSETS THIS YEAR

2019-08-29T17:19:07+00:00

Bonus depreciation is a tax incentive that allows small- to mid-sized businesses to take a first year-deduction on purchases of qualified business property in addition to other depreciation.   How bonus depreciation works Generally, the point of depreciation is to spread out the cost of an asset over the life of the asset, rather than take [...]

SHOULD A BUSINESS PURCHASE FIXED ASSETS THIS YEAR2019-08-29T17:19:07+00:00

CLARIFICATION OF MEALS AND ENTERTAINMENT DEDUCTIONS FOR BUSINESS

2019-08-23T19:25:18+00:00

Deductions for business meals are back on the table. Allaying initial fears, the IRS recently provided clarification concerning food and beverage deductions under the Tax Cuts and Jobs Act (TCJA) in Notice 2018-76. Based on this guidance, many of your business clients may still qualify for some write-offs. Significantly, the TCJA eliminated the traditional 50% deduction [...]

CLARIFICATION OF MEALS AND ENTERTAINMENT DEDUCTIONS FOR BUSINESS2019-08-23T19:25:18+00:00

QuickBooks Classes

2019-09-27T13:57:32+00:00

View Our Schedule Of Classes Here Are you thinking of starting a business or have you recently started one? Do you own an existing business that could use a little more organization? Are you thinking of purchasing Quickbooks but don’t know if it’s right for you? If you answered yes to any of these questions, we [...]

QuickBooks Classes2019-09-27T13:57:32+00:00

THE IRS IS NOT ALWAYS RIGHT

2018-12-15T21:07:22+00:00

THE IRS IS NOT ALWAYS RIGHT by Kimberly Wenzel, EA Everyone knows that the IRS sends out letters to taxpayers every year indicating that something was wrong with the tax return that was filed.  The most common is the CP2000 letter. These letters normally infer that there is a large tax balance due because of errors [...]

THE IRS IS NOT ALWAYS RIGHT2018-12-15T21:07:22+00:00

VEHICLE MILEAGE RATES FOR 2019 INCOME TAXES

2018-12-14T20:41:11+00:00

2019 Standard Mileage Rate by Michael M. Sargent The optional standard mileage rates for business use of a vehicle will increase significantly in 2019 per the IRS announcement of Dec 14, 2018. For business use of a car, van, pickup truck, or panel truck, the rate for 2019 will be 58 cents per mile up from 54.5 [...]

VEHICLE MILEAGE RATES FOR 2019 INCOME TAXES2018-12-14T20:41:11+00:00