Business Tax

May 30, 2023

Keep these DOs and DON’Ts in mind when deducting business meal and vehicle expenses

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try […]
June 5, 2023

Traveling for business this summer? Here’s what you can deduct.

If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in order […]
June 19, 2023

The Trust Fund Recovery Penalty: Who can it be personally assessed against?

If you own or manage a business with employees, there’s a harsh tax penalty that you could be at risk for paying personally. The Trust Fund […]
July 3, 2023

Advantages and disadvantages of claiming big first-year real estate depreciation deductions

Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should […]