Resources
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Tax-favored Qualified Small Business Corporation status could help you thrive
Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-Free Treatment for Eligible Stock Gains QSBCs are the same as garden-variety C corporations…
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Does your business have employees who get tips? You may qualify for a tax credit
If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare…
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The standard business mileage rate will be going up slightly in 2024
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile in 2024. The IRS…
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Defer a current tax bill with a like-kind exchange
If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is with a Section 1031 “like-kind”…
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Planning for net investment income taxes
The 3.8% net investment income tax (NIIT) is an additional tax that applies to some higher-income taxpayers on top of capital gains tax or ordinary income tax. Fortunately, there are…
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TAX STRATEGIES TO BOOST YOUR BUSINESS
We’ve closed another year marked by economic uncertainties, and one constant remains—the potential to enhance your company’s financial health by strategically managing your tax obligations. Below, we outline practical and…