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Articles on this Page
- 04/10/18--09:00: _Home-related tax br...
- 04/20/18--06:30: _A net operating los...
- 04/24/18--11:00: _Should you file For...
- 05/08/18--07:00: _A Review of Signifi...
- 05/24/18--08:00: _Get started on 2018...
- 05/30/18--09:00: _IRS Audit Technique...
- 06/07/18--11:31: _Be aware of the tax...
- 06/20/18--09:16: _The TCJA changes so...
- 06/25/18--08:00: _Putting your child ...
- 07/05/18--13:30: _What businesses nee...
- 07/17/18--11:30: _Does your business ...
- 08/09/18--08:00: _How to avoid gettin...
- 08/15/18--12:00: _3 traditional midye...
- 08/24/18--08:22: _Why the “kiddie tax...
- 08/29/18--12:00: _Do you still need t...
- 09/09/18--07:30: _Keep an eye out for...
- 09/12/18--11:30: _An FLP can save tax...
- 09/18/18--15:01: _Assessing the S corp
- 04/20/18--06:30: A net operating loss on your 2017 tax return isn’t all bad news
- 05/08/18--07:00: A Review of Significant TCJA Provisions Affecting Small Businesses
- 05/24/18--08:00: Get started on 2018 income tax planning now!
- 06/07/18--11:31: Be aware of the tax consequences before selling your home
- 08/09/18--08:00: How to avoid getting hit with payroll tax penalties
- 08/24/18--08:22: Why the “kiddie tax” is more dangerous than ever?
- 08/29/18--12:00: Do you still need to worry about the AMT?
- 09/09/18--07:30: Keep an eye out for extenders legislation
- 09/12/18--11:30: An FLP can save tax in a family business succession
- 09/18/18--15:01: Assessing the S corp
Home ownership is a key element of the American dream for many, and the U.S. tax code includes many tax breaks that help support this dream. If you own a home, you may be eligible for several valuable breaks when … Continue reading
The post Home-related tax breaks are valuable on 2017 returns, will be less so for 2018 appeared first on Ramsay and Associates.
When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. If when filing your 2017 income tax return you found that your business had an NOL, there is an upside: tax benefits. But beware — … Continue reading
The post A net operating loss on your 2017 tax return isn’t all bad news appeared first on Ramsay and Associates.
Classifying workers as independent contractors — rather than employees — can save businesses money and provide other benefits. But the IRS is on the lookout for businesses that do this improperly to avoid taxes and employee benefit obligations. To find … Continue reading
The post Should you file Form SS-8 to ask the IRS to determine a worker’s status? appeared first on Ramsay and Associates.
Now that small businesses and their owners have filed their 2017 income tax returns (or filed for an extension), it’s a good time to review some of the provisions of the Tax Cuts and Jobs Act (TCJA) that may significantly … Continue reading
The post A Review of Significant TCJA Provisions Affecting Small Businesses appeared first on Ramsay and Associates.
With the April 17th individual income tax filing deadline behind you (or with your 2017 tax return on the back burner if you filed for an extension), taxes maybe the farthest thing from your mind. But for maximum tax savings, … Continue reading
IRS examiners use Audit Techniques Guides (ATGs) to prepare for audits — and so can small business owners. Many ATGs target specific industries, such as construction. Others address issues that frequently arise in audits, such as executive compensation and fringe … Continue reading
The post IRS Audit Techniques Guides provide clues to what may come up if your business is audited appeared first on Ramsay and Associates.
In many parts of the country, summer is peak season for selling a home. If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it will sell and how much you’ll … Continue reading
The post Be aware of the tax consequences before selling your home appeared first on Ramsay and Associates.
It’s not uncommon for businesses to sometimes generate tax losses. But the losses that can be deducted are limited by tax law in some situations. The Tax Cuts and Jobs Act (TCJA) further restricts the amount of losses that sole … Continue reading
The post The TCJA changes some rules for deducting pass-through business losses appeared first on Ramsay and Associates.
If you own a business and have a child in high school or college, hiring him or her for the summer can provide a multitude of benefits, including tax savings. And hiring your child may make more sense than ever … Continue reading
The post Putting your child on your business’s payroll for the summer may make more tax sense than ever appeared first on Ramsay and Associates.
Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as digital, electronic, or cryptocurrency. While most small businesses aren’t yet accepting bitcoin or other … Continue reading
The post What businesses need to know about the tax treatment of bitcoin and other virtual currencies appeared first on Ramsay and Associates.
You’ve probably heard about the recent U.S. Supreme Court decision allowing state and local governments to impose sales taxes on more out-of-state online sales. The ruling in South Dakota v. Wayfair, Inc. is welcome news for brick-and-mortar retailers, who felt … Continue reading
The post Does your business have to begin collecting sales tax on all out-of-state online sales? appeared first on Ramsay and Associates.
For small businesses, managing payroll can be one of the most arduous tasks. Adjusting income tax withholding based on the new tables issued by the IRS earlier this year added to that burden. (Those tables account for changes under the … Continue reading
The post How to avoid getting hit with payroll tax penalties appeared first on Ramsay and Associates.
With its many changes to individual tax rates, brackets and breaks, the Tax Cuts and Jobs Act (TCJA) means taxpayers need to revisit their tax planning strategies. Certain strategies that were once tried-and-true will no longer save or defer tax. … Continue reading
The post 3 traditional midyear tax planning strategies for individuals that hold up post-TCJA appeared first on Ramsay and Associates.
Once upon a time, some parents and grandparents would attempt to save tax by putting investments in the names of their young children or grandchildren in lower income tax brackets. To discourage such strategies, Congress created the “kiddie” tax back … Continue reading
There was talk of repealing the individual alternative minimum tax (AMT) as part of last year’s tax reform legislation. A repeal wasn’t included in the final version of the Tax Cuts and Jobs Act (TCJA), but the TCJA will reduce … Continue reading
The pieces of tax legislation garnering the most attention these days are the Tax Cuts and Jobs Act (TCJA) signed into law last December and the possible “Tax Reform 2.0” that Congress might pass this fall. But for certain individual … Continue reading
One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company to the next generation. Often, the best time tax-wise to start transferring ownership is long before the owner is ready … Continue reading
The post An FLP can save tax in a family business succession appeared first on Ramsay and Associates.
The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at the federal level). But not all businesses are eligible, and with the new 21% flat income tax rate that now … Continue reading