It’s hard to believe, but only one in two Americans has access to a 401(k) retirement plan. That’s because many small businesses don’t offer them, especially companies with fewer than 25 employees. That may change…

Last tax season was a learning experience for everyone who had partnership, S corporation or sole proprietor income as they tried to understand the new qualified business income (QBI) deduction. The rules and regulations challenged…

Late filing of S corporation and partnership returns can be costly. The last couple of years, the IRS has been penalizing late filers of S corporation and partnership tax returns. This despite the fact that…

Business owners don’t always do tax research about the various expenses they make.  Many assume that all expenses related to their business are deductible on their tax returns.  In many cases, this is true, but…

Mileage rates for travel are now set for 2020. The standard business mileage rate decreases by 0.5 cents to 57.5 cents per mile. The medical and moving mileage rates also decreases by 3 cents to…

Upcoming Tax Deadlines January 15 – Due date for the fourth installment of 2019 individual estimated tax. January 31 – Due date for employers to provide W-2 statements to employees, and also file Forms W-2…

Upcoming Deadlines:  September 16, 2019 – Third quarter installment of 2019 individual estimated tax is due. – Filing deadline for 2018 calendar-year tax returns for S corporations and partnerships with extensions of the March due…

When it comes to the perception of IRS audits, conjecture reigns supreme. The combination of the complex tax code and a government agency with the full authority to enforce it leads to some pretty wild…