by Donald Bicking Jr. CPA, CTC | Jun 6, 2022 | Small Business
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax....
by Donald Bicking Jr. CPA, CTC | May 23, 2022 | Small Business
Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner. Why does this happen? It’s due to the way...
by Donald Bicking Jr. CPA, CTC | May 4, 2022 | Individual
If you donate valuable items to charity, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. If you donate an item of property (or a group...
by Donald Bicking Jr. CPA, CTC | Apr 4, 2022 | Uncategorized
The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by...
by Donald Bicking Jr. CPA, CTC | Mar 21, 2022 | Small Business
Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why would you want to? One reason might be tax law changes that raise tax rates....
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