A tax deduction reduces the amount of income subject to tax, while a tax credit is a dollar-for-dollar reduction in tax liability. A tax credit… Read More »What’s the difference between a tax deduction and a tax credit?
Before hiring individuals to work as independent contractors, businesses should make sure they are on solid ground treating the workers as contractors rather than as… Read More »EMPLOYEE or Independent CONTRACTOR?
Do you use your car for business driving or maintain an office in your home? In either situation, you may have a choice of methods… Read More »Taxing Decisions – Car and Home Office Expenses
The tax-exempt status that nonprofit organizations enjoy does not relieve them of all tax-related concerns. If you are involved with a nonprofit in a leadership… Read More »NONPROFITS: Don’t Ignore These Tax Issues
A lot of business gets done outside of the office — over lunch, on the golf course, etc. The tax law allows deductions for business… Read More »DEDUCTING Meal and Entertainment Expenses
Are you Starting a New Business? Whether you intend to buy an existing business or are starting a new business, you’ll want to keep track… Read More »Starting a New Business?
Businesses and rental property owners who buy fixed assets or spend money to maintain or improve their property often ask this question. New final IRS… Read More »CAPITALIZE OR EXPENSE?
The Internet has been a boon for nonprofit organizations. Charities hoping to raise awareness — and money — can now reach a worldwide audience with… Read More »Fundraising on the Internet