Which entity is most suitable for your new or existing business?
The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under…
Understanding how taxes factor into an M&A transaction
Merger and acquisition activity has been brisk in recent years. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be…
Which business entity is right for your restaurant?
Entity selection can be one of the most influential decisions a restaurant owner can make. The entity that you choose will impact how you file your taxes, and perhaps even…
A refresher on major tax law changes for small-business owners
The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes.…
Tax reform expands availability of cash accounting
Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater…
Year-End Tax Planning for Restaurants in the Wake of the Tax Cuts and Jobs Act
Carol Casale, CPA/ABV, CVA The Tax Cuts and Jobs Act may prove to be historically influential legislation for the restaurant industry. While it’s true that some restaurant owners will benefit…
Choosing the best business entity structure post-TCJA
For tax years beginning in 2018 and beyond, the Tax Cuts and Jobs Act (TCJA) created a flat 21% federal income tax rate for C corporations. Under prior law, C…
A net operating loss on your 2017 tax return isn’t all bad news
When a company’s deductible expenses exceed its income, generally a net operating loss (NOL) occurs. If when filing your 2017 income tax return you found that your business had an…
Additional 2018 Tax Deadlines
Keeping track of all the deadlines for government mandated forms, tax payments and other tax-related tasks can be burdensome. Below is a summary of due dates – keep in mind some…
IRS sheds light on new limit on business interest expense deductions
The Tax Cuts and Jobs Act (TCJA) imposes a limit on deductions for business interest for taxable years beginning in 2018. The limit, like other aspects of the law, has…