There are many rules that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to sell is land or depreciable property and is in use by your business. Additionally, you have been holding this property for more than a year. There are different rules … Continue reading “The Tax Mechanics Involved In The Sale of Trade or Business Property”
Month: April 2022
Businesses Looking For Outside Investors Need A Sturdy Pitch Deck
Is your business ready to seek funding from outside investors? Perhaps you’re a start-up that needs money to launch as robustly as possible. Or maybe your company has been operating for a while and you want to pivot in a new direction or just take it to the next level. Whatever the case may be, … Continue reading “Businesses Looking For Outside Investors Need A Sturdy Pitch Deck”
Tax Considerations When Adding A New Partner At Your Business
Adding a new partner in a business partnership has several financial and legal implications. Let’s say you and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to it. Let’s further assume that your bases in your partnership … Continue reading “Tax Considerations When Adding A New Partner At Your Business”
Offering Summer Job Opportunities? Double-Check Child Labor Laws
Spring has sprung — and summer isn’t far off. Does your business typically hire minors for summer job opportunities? If so, now’s a good time to brush up on labor laws prior to hiring a child. In News Release No. 22-546-DEN, the U.S. Department of Labor’s Wage and Hour Division (WHD) recently announced that it’s … Continue reading “Offering Summer Job Opportunities? Double-Check Child Labor Laws”
Fully Deduct Business Meals This Year
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, you can fully deduct business meals at 100% (from the usual deduction of 50%) for food and beverages provided by restaurants in 2022 (and 2021). So, you can take … Continue reading “Fully Deduct Business Meals This Year”
Undertaking A Pay Equity Audit At Your Business
Pay equity is both required by law and a sound business practice. However, providing equitable compensation to employees who perform the same or similar jobs, while accounting for differences in experience and tenure, isn’t easy. That’s why every company should at least consider undertaking a pay equity audit to assess its compensation philosophy and approach. … Continue reading “Undertaking A Pay Equity Audit At Your Business”
2022 Q2 Tax Calendar: Key Deadlines For Businesses & Other Employers
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing … Continue reading “2022 Q2 Tax Calendar: Key Deadlines For Businesses & Other Employers”