Small businesses can often find ways to give back to their communities, and one way to do this is by donating services. However, many business owners may wonder: Can we deduct donated services on our ...

Receipts play a crucial role in tracking business expenses and ensuring you comply with tax laws. However, sometimes receipts go missing. Whether they’re lost, damaged, or never received in the first ...

The Employee Retention Credit (ERC) is a refundable tax credit introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020. It was designed to provide financial relief ...

When borrowing from your corporation, it's essential to navigate the process carefully to avoid tax complications and legal issues. If you own a closely held corporation, you can borrow funds from you ...

California's Unclaimed Property Law ensures that unclaimed financial assets are safeguarded by the state until the right owners or heirs claim them. Such assets can include dormant bank accounts, unca ...

In the ever-evolving landscape of accounting, embracing technology has become crucial for maintaining efficiency, accuracy, and competitiveness. Technological advancements are reshaping the industry, ...

Businesses in certain industries have employees who received tips as part of their compensation. These businesses include salons, hotels and restaurants. Tips are discretionary payments that custom ...

There are tax implications to consider when turning your hobby into a business. Perhaps you enjoy sewing and would like to open a seamstress business. Or maybe you would like to turn your gardening or ...

Although not a significant amount, the standard business mileage rate is increasing in 2024 to 67 cents (up from 65.5 cents in 2023). Do you use the optional standard mileage rate to calculate your de ...

Many small business owners are seeking ways to embrace more sustainable operations. And if they can lower their tax bill simultaneously, that's a win-win. And that's exactly what the recently passed e ...