Net Operating Rules for Small Business Owners
When a trade or business’s deductible expenses exceed its income, a net operating loss (NOL) generally occurs. When filing your 2019 income tax return, you might find that your business …
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Tax Filing Marriage Penalty
One byproduct of the Internal Revenue Code is that the tax liability of married couples who file jointly may be more than their combined tax liabilities would be as single …
Retirement Benefit With a Twist
Most everyone has heard of a 401(k) plan, and a sizable number of adults likely have at least a passing familiarity with the Roth IRA. What remains less well known …
Seniors: Medicare Premiums Could Lower Your Tax Bill
Americans who are 65 and older qualify for basic Medicare insurance, but they may need to pay additional premiums to get the level of coverage they desire. The premiums can …
Executive Compensation Requires Informed Decision-Making
Business owners want to compensate themselves and their top executives fairly and competitively for their work, results, and commitment. So, how do you achieve that goal without attracting undue IRS …