by Joan Buchman Miller | Oct 11, 2021 | Accounting, income tax, tax planning
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all... 
by Joan Buchman Miller | Sep 7, 2021 | Accounting, income tax, tax planning
A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have to substantiate the loss. A recent U.S. Tax Court decision illustrates how that’s sometimes difficult to do.... 
by Joan Buchman Miller | Aug 23, 2021 | Accounting, tax planning
If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest personal assets and in many cases, your marital property will include all or part of it. Tax-free property transfers You... 
by Joan Buchman Miller | Aug 16, 2021 | Accounting, C Corporation, tax planning
What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a debt obligation of your closely held corporation, be aware of the possible tax consequences. If your corporation defaults... 
by Joan Buchman Miller | Aug 10, 2021 | Accounting
If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What are the requirements? Each person who, in the course of operating a trade or business, receives more than $10,000 in cash in one... 
by Joan Buchman Miller | Aug 2, 2021 | Accounting, LLC
Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe you are launching a new business and want to know your options for setting it up. Here are the basics of operating as...