If your business occupies substantial space and needs to increase or move from that space in the future, you should keep the rehabilitation tax credit in mind. This is especially true if you favor historic buildings.
With summer right around the corner, you may be thinking about hiring seasonal help for your small business. At the same time, you may have children looking to earn extra spending money. You can save family income and payroll taxes by putting your child on the payroll. It’s a win-win!
If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be a good fit.
On March 17, 2023, US Senators Maggie Hassan and Todd Young reintroduced their American Innovation and Jobs Act. This bi-partisan legislation promotes innovation by encouraging new and established businesses to invest in scientific research and development (R&D) of new technologies.
The IRS announced on March 21, 2023 that they are soliciting feedback in advance of new guidance on the tax treatment of NFTs as collectibles.
These days, most businesses have some intangible assets. The tax treatment of these assets can be complex.
It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the law have expired or will expire in the next few years. One provision that took effect last year was the end of current deductibility for research and experimental (R&E) expenses.
Under tax law, businesses have a valuable tax deduction – advertising and marketing expenses. Generally, businesses can deduct advertising and marketing expenses that help keep existing customers and bring in new ones.
This week, Massachusetts Governor Maura Healey unveiled a $742 million tax relief package designed to provide relief to the Commonwealth’s most vulnerable populations and make the state's tax structure more competitive.
If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this year than you’d get from a smaller vehicle. The reason has to do with how smaller business cars are depreciated for tax purposes.
