For Business
How to avoid a “BIG” tax problem
IRS changes gears with new mileage rate July 1, 2022
It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.
Read MoreTax-Deductible Retirement Plans for 2022
For the small business owner: Options when you are self-employed with no employees (Chart 1 below) Options when you are the only employee of your corporation (Chart 2 below)
Read MoreEating well – with the IRS’ blessing
We get lots of questions about the 100% meals deduction continuing through 2022. Here’s a summary of how the deductible meals are treated. [embeddoc url=”https://elitecpatax.com/wp-content/uploads/2022/01/Meals-Entertainment.pdf” download=”all” viewer=”browser”]
Read MoreOut with the old – in with the new 2022 mileage rates
It’s easy to forget about the business use of your personal car. Here’s how to calculate this deduction for all your business miles.
Read MoreIs your business safe from Covid lawsuits?
Our friends at the law firm of Berman, Fink Van Horn PC just published an excellent article on protecting your business from Covid lawsuits. Although written with healthcare providers in mind, the legal guidelines and protective acts could apply to any business. Attorney Kenneth Winkler offers the following summary of the new Georgia law: Under…
Read MoreRioting damage to your business
I recently spoke to a client in North Atlanta whose business storefront suffered damage from the riots in the city. Although a deductible casualty loss was the last thing on their mind, it might be helpful to cover this topic as it relates to damage to your business property. The recent riots in…
Read MoreDo you wish that people gave you more credit?
Work Opportunity Tax Credit extended through 2020 If you’re a business owner, be aware that a recent tax law extended a credit for hiring individuals from one or more targeted groups. Employers can qualify for a valuable tax credit known as the Work Opportunity Tax Credit (WOTC). Generally, an employer is eligible for the credit…
Read MoreSmall Business Alert!
Don’t fall for newest IRS scam
Read MoreIdentity Theft – Part III
In parts one and two of our ID Theft series, the focus was on an outsider taking your money. Today our guest editor, Judge Kathy Brown Valencia, focuses on a different aspect of ID theft. What if a member of your business team uses ID Theft to place the blame on your business? We urge…
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