To get my complete, FREE articlewith all the details… The Tax Cuts and Jobs Act certainly did some good. But it also did some not-so-good things… For example, the Act crushed a huge chunk of business entertainment tax deductions. Ouch! Luckily, business entertainment facilities escapedthe crushing, and such facilities continue to be100% tax-deductible … [Read more...]
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New Hope for Restoring and Fixing the Employee Retention Credit
To get my complete, FREE articlewith all the details… Did it hurt when the Employee Retention Credit (ERC) was repealed for the fourth quarter of 2021? Were you upset when the IRS disallowed the ERC on wages paid to the corporate owner-employee? Well, I’m here to tell you that“The Times They Are a-Changin'.” That’s right. the Employee Retention Creditmay be … [Read more...]
Tax Treatment of Employer-Provided Meals: What’s New?
To get my complete, FREE articlewith all the details… Marie Antoinette said, “Let them eat cake.” The IRS said, “Let them eat lunch.” That’s right. For decades, you’ve been able to provide employees with free meals as a tax-free fringe benefit. When it comes to meals, “Free” is a beautiful word. Free meals, that you provide, can offer you some nice tax … [Read more...]
Owe Taxes for Misclassified Workers? It’s Section 530 to the Rescue!
To get my complete, FREE articlewith all the details… You know what’s bad? An IRS audit. You know what’s REALLY bad? When the IRS claims that many of your 1099 independent contractors are actually W-2 employees! You see, if that’s the claim they make, you may have to pay tens of thousands of dollars in unpaid payroll taxes! Why the huge extra tax … [Read more...]
Available Tax Credits for Schedule C Business Owners with Employees
To get my complete, FREE articlewith all the details… If you’re running a Schedule C business,Uncle Sam has some good news for you! Thanks to your rich uncle, there are eight valuable tax credits that you may be eligible for when you have employees or hire employees to work in your Schedule C business. And you may be able to claim more than one! Here are the … [Read more...]