Blog
E-Sign Extended for More Tax Forms
You can keep e-signing many of your IRS forms through the end of 2021, the IRS has announced. Plus, more forms have been added to that list. In April 2021, the IRS announced it will allow...
Federal Contracting & Your Small Business
Federal contracting can be an excellent niche for small businesses in many areas, including manufacturing, IT, professional services, construction and more. With the federal government...
Tax Breaks for Pivoting Your Business
The construction industry has been through a rollercoaster of highs and lows the past couple of years. The pandemic has caused volatility in project timelines, staffing,...
Six Early Moves
There is only one certainty for business owners: You won’t be able to stay at the helm forever. You’ll exit, either by choice or by circumstance. Some business owners prepare years in advance...
New Tax Developments for S Corporations
An important tax court decision was recently passed down that addresses a common audit trigger for S corporations: Payments to sole shareholders. Are they considered wages or distributions? The...
Can a Retroactive Tax Hike Happen This Year?
There’s talk about the potential for a retroactive tax hike for capital gains. Is it possible? Yes. But is it likely? That question is much more difficult to answer. Legally, the U.S. President...
Why File a Business Tax Return If I Didn’t Make Money?
There’s much more to lose than gain when failing to file a business tax return. You must file if you make money, of course, but it’s also essential to file when you break even or when you lose...
Taxes on Collectibles
Many valuable coins, stamps, artwork, cars, and other collectibles are considered alternate investments by the IRS. With the pandemic reportedly sparking new interest in memorabilia and the...
6 Family Business Succession Tips
There is only one certainty for business owners: You won’t be able to stay at the helm forever. You’ll exit, either by choice or by circumstance. Some business owners prepare years in advance...
Why the IRS Isn’t Taking Your Call
Although our Texas Tax Day was delayed an entire month longer than the rest of the country, it has still been a chaotic mess for those needing answers from the IRS. The agency is backlogged so...