by Joan Buchman Miller | Jun 22, 2022 | Accounting, tax planning
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas on June 17 was $5, compared with $3.08 a year earlier, according to the AAA Gas Prices... 
by Joan Buchman Miller | Jun 14, 2022 | Accounting, C Corporation, tax planning
There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends received by a corporation. As a result, a corporation will typically be... 
by Joan Buchman Miller | Jun 8, 2022 | Accounting, tax planning
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax.... 
by Joan Buchman Miller | May 31, 2022 | Accounting, deadlines, tax planning
The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for computing corporate federal estimated payments. You want your business to pay the minimum amount of estimated taxes without... 
by Joan Buchman Miller | May 24, 2022 | Accounting, tax planning
Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may be taxed on more partnership income than was distributed to you from the partnership in which you’re a partner. Why does this happen? It’s due to the way... 
by Joan Buchman Miller | May 20, 2022 | Accounting, tax planning
Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required range of income to be reported. Beginning this year, the threshold has dropped significantly for the filing of...