Small Businesses: Rent Expenses May be Tax-deductible

If you’re a small business owner just starting out, you may not realize that some rent expenses may be deductible on your tax return. Here are some things small business owners should keep in mind when it comes to deducting rental expenses:

Small Business: Deducting Startup Costs

If you’ve recently started a business – or are thinking about starting a business – you should know that as an owner, all eligible costs incurred before you began operating the business are treated as capital expenditures. As such, they are part of the cost basis for the business.

Businesses: Important Tax Changes in 2023

It’s no surprise there are important tax changes you need to be aware of this year.

Here’s what small business owners need to know about tax law changes and inflation adjustments for the year ahead. Take a look.

Advertising and Marketing Costs May be Tax Deductible

As a small business owner, you may be able to deduct advertising and marketing expenses that help bring in new customers and keep existing ones.

Even better is that these deductions help small businesses save money on their taxes. Here’s what you need to know about this valuable tax deduction.

Small Business Taxpayers: The Year in Review

As the year comes to an end, here’s what business owners need to know about tax provisions for 2022.

Take some time to review the information below to ensure you’re prepared for what’s ahead.

Year-end Tax Planning Strategies for Business Owners

Several end-of-year tax planning strategies are available to business owners to reduce their tax liability. In this article, we’ll cover deferring income, purchasing new business equipment, Section 179 Expensing, and more. Let’s take a look.

Closing a Business for Good

If you’re a small business owner who is thinking about closing your business for good, you should be aware that there is more to closing a business than laying off employees, selling office furniture, and closing the doors – you must also take certain actions as required by the IRS to fulfill your tax obligations. For example, if you have employees, you must file final employment tax returns as well as make final federal tax deposits of these taxes.

Cash Management Tips for Small Businesses

Cash flow is the lifeblood of every small business but many business owners underestimate just how vital managing cash flow is to their business’s success. In fact, a healthy cash flow is more important than your business’s ability to deliver its goods and services.

Retirement Plan Options For Small Businesses

According to the US Small Business Administration, small businesses employ half of all private-sector employees in the United States. However, a majority of small businesses do not offer their workers retirement savings benefits.

Small Employer Health Reimbursement Arrangements

Small employer HRAs or QSEHRAs (Qualified Small Employer Health Reimbursement Arrangements) allow small businesses without group health plans to set aside money, tax-free, for employees to use toward medical expenses – including the cost of buying health insurance. Here’s what small business owners need to know about QSEHRAs.