Hiring Your Minor Children for Summer Jobs
If you’re a small business owner and you hire your children for summer jobs, you may be able to obtain tax breaks and other nontax benefits. You may also be …
Blog
Use Payable-on-Death (POD) Accounts to Transfer Assets Outside of Probate
Payable-on-death (POD) accounts can provide a quick, simple, and inexpensive way to transfer assets outside of probate. They can be used for bank or credit union accounts, certificates of deposit, …
4 Ways to Ensure Corporate-Owner Compensation is “Reasonable”
If you own a C corporation, you know there’s a tax advantage to taking money out as compensation rather than as dividends. The reason: A corporation can deduct the salaries …
Tax Responsibilities When Your Business Closes
Businesses close for many reasons, such as these: If you’ve decided to close your business, you might need assistance handling various tax obligations. For example, a final income tax return …
What tax records can you toss and what should you keep?
Generally, the IRS has three years to audit a tax return, from the later of the due date of the return, or the date you file. You can also file …