Bonus Plans
A year-end bonus sounds like a good idea, but is it in the best interest for your employees and company?
Club Dues and Meal and Entertainment Expenses—Some are Deductible, Many are Not
Generally, club dues are not a deductible expense, but depending on the circumstances, a business meal at the club might be.
Do I Need a Consultant?
If you have a business, you are likely not an expert at all facets of running your business. A consultant can be hired to lead you in areas that are not your expertise.
What is Consulting?
Consulting can help a business by examining existing problems, developing solutions and identifying best practices. Consulting can also be targeted to one segment of the business like taxes or information technology.
Will it Really Take 39 Years to Deduct the Cost of Your Commercial Building?
If you do not want to wait 39 years to deduct the cost of your commercial building, a cost segregation study can classify some elements as personal property.
Employer Provided Meals—Are They Taxable?
If you stay at work late to meet a deadline and the company buys pizza for dinner, is this taxable? And to whom?
Employee and Employer Fringe Benefits
Fringe benefits are one of the overlooked benefits when considering a new job. These might garner you a discount on merchandise or services, or earn you points and rewards that you can use personally.
Like-Kind Exchanges or 1031 Exchanges
A like-kind exchange, or 1031 exchange, is used to defer the capital gain on the exchange of business or investment property for the same kind of property.
Travel and Other Employee Business Expenses
There are plenty of business expenses that are deductible if they are not fully reimbursed by your employer. Recordkeeping for these expenses is important too.
Political Contributions and Expenses Paid by Businesses
A business taxpayer may deduct contributions to organizations other than charities as a business expense provided that the contributions have a direct relationship to the company’s business.