by Joan Buchman Miller | Sep 3, 2024 | Accounting, LLC, tax planning
Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability and other issues. For many businesses, a limited liability company (LLC) is an attractive choice. It can be structured to...
by Joan Buchman Miller | Aug 27, 2024 | Accounting, LLC, tax planning
Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through...
by Joan Buchman Miller | Aug 19, 2024 | Accounting, tax planning
Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify. However, some businesses may be better off using the accrual method. Therefore,...
by Joan Buchman Miller | Aug 12, 2024 | Accounting, tax planning
Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of real estate via a pass-through entity such as an LLC, partnership or S corporation. You may expect to pay Uncle...
by Joan Buchman Miller | Aug 5, 2024 | Accounting, tax planning
Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington would...
by Joan Buchman Miller | Jul 30, 2024 | Accounting, tax planning
Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted. But there are established rules that generally apply to the deductibility of business expenses and provide business...
