Tag Archives | small business

couple starting a business

9 Tax Rules and Considerations When Starting Your Own Business

Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. 1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income, you are eligible to claim the 20% pass-through deduction, subject to limitations. The deduction […]

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Business Cost-Control Strategies

“That’s just the cost of doing business.” You’ve probably heard this expression many times. It’s true that, to invoke another cliché, you’ve got to spend money to make money. But that doesn’t mean you have to take rising operational costs sitting down. Cost control is a formal management technique through which you evaluate your company’s […]

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Gregory M. Ward, CPA

An Overview of Qualified Improvement Property

A common frustration for small business owners has historically been their inability to recover nonresidential commercial real estate costs through depreciation in a reasonable amount of time. Nonresidential real property has been relegated to a 39-year straight-line recovery life, with no opportunity for accelerated deductions. This unfavorable depreciation period and disappointing annual deduction has led […]

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