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Under the 2018 Tax Cuts and Jobs Act guidelines, a taxpayer may be able to claim a $500 credit for household dependents that don't meet the definition of a qualifying child or qualifying relative. Provided that the... Continue Reading
When a business acquires an asset that will last longer than a year, the cost of the asset must be expensed over time to match the asset's life instead of being deducted all at once. This treatment increases taxes in... Continue Reading
Year-end is just around the corner, and that means a couple of administrative tasks are necessary to take care of bookkeeping and tax chores. Here are a couple of tips to make year-end go smoother. Cleaning up ... Continue Reading
The income statement of any business is probably the most important report of all. It is a snapshot of the financial performance of your business over a period of time, such as a month or year. You might also hear... Continue Reading
The IRS has announced that it has begun sending letters to taxpayers that may have failed to report income and pay the resulting tax from virtual currency transactions or did not report their transactions properly. ... Continue Reading
For small businesses formed as an S Corporation and with plenty of profits, reasonable compensation is a term you may want to be familiar with. Many small businesses have organized as an S Corporation form of... Continue Reading
For business owners with employees, payroll is a necessary task that can slow your day and tie you down if you let it.If you're looking for a way to make payroll less time-consuming, here are five ideas you can put... Continue Reading
On Friday 7 June, HLB International celebrated its 50th anniversary this year by coming together to support local and international community projects for #HLBCommunities Day. The network's first global Corporate... Continue Reading
Business travel is still tax-deductible, under the Tax Cuts and Jobs Act of 2017 (TCJA), but there is a major difference now. Relatively few individuals will be able to claim such deductions; for the most part,... Continue Reading
