Tax Tips

Steering clear of abusive tax shelters

    As the year comes to a close, many businesses look for ways to save on taxes. Purveyors of abusive tax shelters know this and are ready to take advantage of unwitting owners. Abusive tax shelters are complex transactions that have no legitimate business purpose and are used solely to reduce or eliminate tax […]

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Research credit available to some businesses for the first time

The Tax Cuts and Jobs Act (TCJA) didn’t change the federal tax credit for “increasing research activities,” but several TCJA provisions have an indirect impact on the credit. As a result, the research credit may be available to some businesses for the first time. AMT reform Previously, corporations subject to alternative minimum tax (AMT) couldn’t […]

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Selling your business? Defer — and possibly reduce — tax with an installment sale

You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another career opportunity or retiring. Whatever your plans, you want to get the return from your business that you’ve earned from all of the time and money you’ve put into it. […]

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Tax Tip Tuesday 10.16.18: Now is the Time to Review Your Business Expenses

As we approach the end of the year, it’s a good idea to review your business’s expenses for deductibility. At the same time, consider whether your business would benefit from accelerating certain expenses into this year. Be sure to evaluate the impact of the Tax Cuts and Jobs Act (TCJA), which reduces or eliminates many […]

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