Batley CPA Tax & Business Alert March 2020
Gig workers represent a growing segment of the economy. And no matter what the job or app, they all have one thing in common: taxes. This article explores the distinctive aspects of this type of self-employment. A sidebar points out that gig workers may qualify for certain business expense deductions.
Batley CPA Tax & Business Alert February 2020
The Tax Cuts and Jobs Act (TCJA) made a significant impact on the deductibility of various types of interest expense for individuals. One area affected is qualified residence interest. This article reviews the TCJA’s effect on this type of interest. A sidebar looks at the law’s impact on investment interest.
Batley CPA Tax & Business Alert January 2020
Despite the prevalence of Web-based meetings, many of today’s businesses still have plenty of employees who travel. If you still have sales staff or other workers out on the road, and you’re reimbursing them on a tax-free basis for their travel expenses, it’s important for you as the employer to stay up to date on the rules that determine the location of a person’s tax home.
Batley CPA Tax & Business Alert December 2019
Ownership of your assets plays an important role in whether they can be seized by creditors. Thus, it might be wise in some situations to transfer ownership of certain assets to your spouse.
Batley CPA Tax & Business Alert November 2019
To qualify for a bad debt deduction, the underlying debt must be bona fide. That is, you must have loaned the money or extended credit with the expectation that you would be repaid and with the intent to enforce collection if you weren’t repaid.
Batley CPA Tax & Business Alert October 2019
It’s common for owners of closely held businesses to transfer money into and out of the company. But it’s critical to make such transfers properly. If you don’t, you might hear from the IRS.
Batley CPA Tax & Business Alert September 2019
Paying spouses will argue that, without the benefit of the alimony deduction, they can’t afford to pay as much as under previous rules.
Batley CPA Tax & Business Alert August 2019
This article provides both general and business-specific tax document retention guidelines.
Batley CPA Tax & Business Alert July 2019
When the TCJA was passed, the big estate planning news was that the federal gift and estate tax exclusion doubled from $5 million to $10 million.
Batley CPA Tax & Business Alert June 2019
The Tax Cuts and Jobs Act has given business owners much to think about, including whether to change the structure under which their companies operate.