by Joan Buchman Miller | Feb 7, 2022 | Accounting, income tax, tax planning, tax records
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects of your venture. Here are eight important issues to consider: You report income and expenses on Schedule C of Form 1040. The net... 
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 28, 2021 | income tax, tax planning
Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports that 2021 is set to be the biggest in M&A history, with the United States... 
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 | Jul 17, 2021 | income tax, LLC, S Corporation, tax planning
Are you eligible to take the deduction for qualified business income (QBI)? It’s available to owners of sole proprietorships, single member limited liability companies (LLCs), partnerships and S corporations. It may also be claimed by trusts and estates. The deduction... 
by Joan Buchman Miller | Dec 3, 2018 | income tax, tax planning
Individual tax planning in the TCJA environment is important. The largest tax overhaul in decades provides several opportunities for tax planning. Depending on your circumstances the new provisions could impact your income tax liability in various ways. Some of the...