Tag: Business Tax

For a business structured as a limited liability partnership (LLP) or a limited liability company (LLC), the passive activity loss (PAL) rules may limit your ability to deduct losses. In

For many small businesses, worrying about the provisions of the Affordable Care Act (ACA) isn’t a top priority, as they usually lack the number of employees required. But the rules

For some research and development activities, companies may qualify for a federal research credit. However, not all research activities qualify, and the credit can be difficult to calculate. But, the

How you put money into your company and take it back out can have a major effect on your tax bill if it operates as a C corporation. Capital contributions

For most organizations, closing their books on December 31 for accounting and tax purposes makes the most sense. But just because it aligns with the calendar year, doesn’t mean it’s

Did you know your business may qualify for working animal tax deductions? From guard dogs protecting property to cats controlling rodents, the IRS allows deductions for animals that serve a

As part of their employee benefits packages, many businesses offer health care and dependent care flexible spending accounts (FSAs). For employees, these plans provide valuable tax savings. For employers, these

You may be eligible for valuable tax deductions on your 2025 income tax return if you used one or more vehicles in your business during 2025. Business use of a

When a business receives advance payment, they are paid before they provide whatever is being paid for. Advanced payments generally must be reported as taxable income in the year they

The 2025 filing deadlines for tax returns and extensions are fast approaching. And while most tax planning moves need to be completed by December 31, there are some decisions that