When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand… Read More »Emil @ CPA Daytraders gives you 9 tax considerations if you’re starting a business as a sole proprietor
The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling businesses to… Read More »Update on IRS efforts to combat questionable Employee Retention Tax Credit claims
As part of the SECURE 2.0 law, there’s a new benefit option for employees facing emergencies. It’s called a pension-linked emergency savings account (PLESA) and… Read More »Should your business offer the newemergency savings accounts to employees?
Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains QSBCs are the… Read More »Emil @ CPA Daytraders explain: Tax-favored Qualified Small Business Corporation status could help you thrive
If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving… Read More »Does your business have employees who get tips? You may qualify for a tax credit
If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is… Read More »Emil @ CPA Daytraders explain how to Defer a current tax bill with a like-kind exchange
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile… Read More »Emil @ CPA Daytraders wrote: The standard business mileage rate will be going up slightly in 2024
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. Keep in mind that this list… Read More »2024 Q1 tax calendar: Key deadlines for businesses and other employers
The holiday season is here. During this festive season, your business may want to show its gratitude to employees and customers by giving them gifts… Read More »Emil @ CPA Daytraders explain: Giving gifts and throwing parties can help show gratitude and provide tax breaks
One of the most appreciated fringe benefits for owners and employees of small businesses is the use of a company car. This perk results in… Read More »Emil @ CPA Daytraders explain: A company car is a valuable perk but don’t forget about taxes
In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. You… Read More »Emil @ CPA Daytraders: There still may be time to reduce your small business 2023 tax bill
The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and… Read More »Emil @ CPA Daytraders: Key 2024 inflation-adjusted tax parameters for small businesses and their owners