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If you’re considering converting your C corporation to an S corporation, be aware that there may be tax implications if you’ve been using the last...

Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost...

Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against their...

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in...

No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is...

Are you feeling generous at year end? Taxpayers can transfer substantial amounts free of gift taxes to their children or other recipients each year...

If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally...

You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these...

You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these...

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as...

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your...

In today’s tough job market and economy, the Work Opportunity Tax Credit (WOTC) may help employers. Many business owners are hiring and should be...

High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and...

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will...

As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal estate...