As your business grows and changes, your goals change as well. Fortunately, the legal structure of your business is not set in stone. If the LLC structure you initially chose for your business no longer serves your needs, it's possible to convert to a C Corporation.
Read MoreTraveling, taking clients out for coffee or lunches, and buying office supplies—these are all costs that employees might charge to their personal credit cards as part of their jobs.
It’s common practice for the business to pay employees back for job-related expenses. Handling expense reimbursements correctly ensures you do it in the most tax-advantaged way while keeping your employees happy.
Read MoreS corporations can provide health insurance as tax-free employee fringe benefits to non-owner employees. However, if the company provides medical care coverage for shareholders, the premiums are considered taxable income to the shareholder.
Read MoreWhether you buy or lease a car for business, it’s a considerable investment. So you want to ensure you’re getting the full tax benefits in the form of deductions and write-offs that will save you money.
Read MoreIt used to be common practice to lump together things like taking a client to a baseball game and treating them to dinner as “meals and entertainment” expense.
Read MoreFor many companies, January is a mad dash of closing the prior year-end, making fourth quarter estimated tax payments, and sending out W-2s and 1099 forms.
Read MoreIt’s almost the end of the year, so business owners are looking at their financial statements for ways to increase their compensation without hurting the business or getting into tax trouble.
Read More
