Business Taxation

Many business owners use a calendar year as their company's tax year. It's intuitive and aligns with most owners' personal returns, making it about as simple as anything involving taxes can be. Not all businesses are able to fit their primary operating seasons neatly into a calendar year, however. For these situations, choosing a fiscal year end may make more sense. 

The ins and outs...

Businesses that acquire, construct, or substantially improve a building - or did so in previous years - should consider a cost segregation study. These studies combine accounting and engineering techniques to identify building costs that are properly allocable to tangible personal property rather than real property, allowing you to reduce your tax liability and boost your cash flow by...

The year isn't over yet, but if your Company is off to a rough start, know that a silver lining may exist in the net operating loss (NOL) deduction.

The rules

A net operating loss occurs when a business's operating expenses and other deductions for the year exceed its revenues. To qualify for the deduction, you must have business expenses in excess of your...

There is a great deal of speculation about the potential tax changes that will come from the Trump administration. The current proposals are, of course, subject to the legislative process and potential negotiation. The most recent proposals are summarized as follows.

Individual taxes:

There are currently seven different tax rates ranging from 10% to 39.6%. The...

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