Small Business Tax planning

Decision Time: Deductible Repair or Capital Improvement?

After nearly a decade of review, the Internal Revenue Service finally released new repair and capitalization regulations last fall, and they could have a [...]

You Can’t Deduct Your Ex On Your Taxes

Some people get creative on their taxes. My advice? Don’t, but perhaps these examples will inspire you. The latest was William L. West, who claimed [...]

Travel The World, Write It Up, Write It Off

You have to admit it sounds awfully good. Travel the world, write your experiences, and write off all your expenses on your taxes. Trouble is, someone thought [...]

Small Business Owners’ January 2014 Tax Checklist

It’s the new year, which means it’s out with the old and in with the new, and this philosophy should come into play when it comes to your tax record [...]

Tax Credits for Your Small Business

Businesses can enjoy a variety of tax credits. A credit differs from a deduction in that it reduces your tax liability dollar for dollar. For example, if [...]