by briesterer | Feb 22, 2021 | Tax & Accounting
Goodbye, 2020. Hello, tax season. Individual taxpayers have until April 15, 2021, to pay Uncle Sam for taxes owed for 2020. (Remember, you can extend the deadline for filing your return until October 15, but you can’t extend the deadline for paying what you owe...
by briesterer | Feb 22, 2021 | Tax & Accounting
Good news! Business taxpayers may still be able to take actions to lower their federal income tax liabilities for 2020, as well as for future years. Consider these ideas before you file last year’s return. Claim 100% First-Year Bonus Depreciation — Or Maybe Not For...
by briesterer | Feb 7, 2021 | Tax & Accounting
When forming a business there are several options available when determining business structure. This article will focus on S corporation benefits and drawbacks and other key considerations when forming a business. Which selection is made will impact day-to-day...
by briesterer | Dec 15, 2020 | Tax & Accounting
Most people aren’t currently exposed to the federal estate tax, thanks to the generous unified federal estate and gift tax exemptions. However, there are still good reasons to review your estate plan and possibly update it to reflect the current federal estate and...
by briesterer | Dec 13, 2020 | Tax & Accounting
Many small business owners are looking forward to the end of 2020. It’s been a year of significant hardship and stress. But staying afloat remains a daunting challenge in 2021. Here are 16 ideas to help reduce costs without sacrificing quality in the new year....
by briesterer | Oct 5, 2020 | Tax & Accounting
On September 30, 2020 the IRS released final rules on the tax calculation of business meals and entertainment with respect to the Tax Cuts and Jobs Act (TCJA) that disallows a deduction for most entertainment. While food and beverage deductions are generally limited...
