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Businesses may receive notices about information returns that don’t match IRS records

01 April 2022
Businesses may receive notices about information returns that don’t match IRS records

If your business has independent contractors or makes other payments to customers or others, you probably file 1099 forms with the IRS. The tax agency is currently sending out notices about these forms to some taxpayers.


Can you deduct the costs of a spouse on a business trip?

30 March 2022
Can you deduct the costs of a spouse on a business trip?

If you own your own business, the rules for deducting a spouse’s travel costs are very restrictive. Here are the rules.


Making withdrawals from your closely held corporation that aren’t taxed as dividends

28 March 2022
Making withdrawals from your closely held corporation that aren’t taxed as dividends

Dividends paid out by corporations are taxable to shareholders and can’t be deducted by the corporation. But there might be ways to get cash out of your corporation without dividend treatment. Here are some approaches.


Important tax aspects of operating your business as a sole proprietor

24 March 2022
Important tax aspects of operating your business as a sole proprietor

Many small businesses operate as sole proprietorships. Here are eight tax issues involved in operating as this entity.


The election to apply the research tax credit against payroll taxes

18 March 2022
The election to apply the research tax credit against payroll taxes

Does your startup business have little or no income tax liability? You may be eligible for a payroll tax credit election for increasing research activities.