business taxes

Tax Treatment of Intangible Assets

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to: Acquire or create an intangible asset, Create or enhance a separate, distinct intangible asset, Create or enhance a “future benefit”

2023-01-31T12:23:02-07:00January 31st, 2023|

Formalize Your Business’s BYOD Policy

When the pandemic hit about two and a half years ago, thousands of employees suddenly found themselves working from home. In many cases, this meant turning to personal devices to access their work email, handle documents and perform other tasks. Even before COVID, more and more businesses were allowing employees

2022-10-18T10:01:48-06:00October 18th, 2022|

Tax Issues When Converting From a C Corporation to an S Corporation

Operating as an S corporation may help reduce federal employment taxes for small businesses in the right circumstances. Although S corporations may provide tax advantages over C corporations, there are some potentially costly tax issues that you should assess before making a decision to switch. Here’s a quick rundown of

2022-04-26T12:27:19-06:00April 26th, 2022|

The Home Office Deduction

If you run your business from your home or perform certain functions at home that are related to your business, you might be able to claim a home office deduction against your business income on your 2018 income tax return. Thanks to a tax law change back in 2013, there

2021-04-12T14:55:29-06:00March 12th, 2019|

Businesses and the Tax Consequences of Accepting Bitcoin

Over the last several years, virtual currency has become increasingly popular. Bitcoin is the most widely recognized form of virtual currency, also commonly referred to as digital, electronic or crypto currency. While most smaller businesses aren’t yet accepting bitcoin or other virtual currency payments from their customers, more and more

2021-04-12T14:56:22-06:00July 17th, 2018|
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