Resources
-
Tax-wise ways to take cash from your corporation while avoiding dividend treatment
If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a dividend distribution…
-
Employee Retention Credit Voluntary Disclosure Program
The Employee Retention Credit (ERC) Voluntary Disclosure Program is a program introduced by the Internal Revenue Service in response to certain businesses claiming the ERC improperly or failing to claim…
-
Taking your spouse on a business trip? Can you write off the costs?
A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit $928.4 billion by 2030, according to…
-
Maximizing QCDs for Strategic Giving and Tax Benefits
In the landscape of financial planning and tax optimization, Qualified Charitable Distributions (QCDs) stand out as a powerful mechanism for individuals looking to enhance their philanthropic impact while optimizing their…
-
What’s the best accounting method route for business tax purposes?
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…
-
Unveiling the Optimal Accounting Method for Your Business’s Prosperity
Understanding and implementing the proper accounting method is a cornerstone for financial clarity and operational success. As a business owner, choosing between cash-basis and accrual accounting methods affects how you…