Tag: Business Tax

If you operate a profitable unincorporated small business with your spouse, you face some challenging tax issues. The Partnership Tax Issues An unincorporated business with your spouse is classified as

The Tax Cuts and Jobs Act introduced more lenient regulations for depreciating business assets. However, the amounts change each year due to inflation adjustments, and due to high inflation, the

Going through a divorce is an inherently stressful process, and for business owners, the complications are further amplified by tax concerns. Your business ownership interest stands as a significant personal

Imagine you’re faced with the decision to guarantee a loan for your corporation, either by choice or request. Prior to committing to becoming a guarantor, endorser, or indemnitor for a

Enacted last year, the SECURE 2.0 legislation introduces comprehensive modifications to retirement plans. One such provision empowers qualifying employers to offer increased assistance to employees confronting emergencies and is established

Are you operating your small business as a sole proprietorship? Perhaps, you’ve contemplated the idea of establishing a limited liability company (LLC) to safeguard your assets. Alternatively, if you’re venturing

Imagine you own a piece of land that has significantly increased in value and is now ready for development. However, if you choose to subdivide the land, develop the resulting

By: Josh Brock Agricultural tax breaks play a crucial role in reducing taxable income and increasing financial resources for farmers and agricultural businesses. Understanding the various deductions available can help

Are you frustrated by the size of your self-employment (SE) tax bills as the owner of a small business? It’s no surprise. In 2023, the SE tax is set at

Government officials observed a significant surge in new businesses during the COVID-19 pandemic. And, according to the U.S. Census Bureau, there continues to be a slight upward trend in business