by Donald Bicking Jr. CPA, CTC | Nov 4, 2021 | Small Business
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation...
by Donald Bicking Jr. CPA, CTC | Nov 1, 2021 | Small Business
If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by conducting business as an S corporation. Fundamentals of...
by Donald Bicking Jr. CPA, CTC | Oct 27, 2021 | Individual
Before the COVID-19 pandemic hit, the number of people engaged in the “gig” or sharing economy had been growing, according to several reports. And reductions in working hours during the pandemic have caused even more people to turn to gig work to make up lost income....
by Donald Bicking Jr. CPA, CTC | Oct 20, 2021 | Small Business
Are you wondering whether alternative energy technologies can help you manage energy costs in your business? If so, there’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types of alternative energy property....
by Donald Bicking Jr. CPA, CTC | Apr 16, 2021 | Individual
The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.” How it works You can claim an itemized deduction on your tax return for real estate taxes and home mortgage...
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