reasonable compensation

Know the ins and outs of “reasonable compensation”

Owners of incorporated businesses know that there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives reasonable…
PTC

Changes to PTC could increase penalty risk

The premium tax credit (PTC) is a refundable credit that helps individuals and families pay for insurance obtained from a Health Insurance Marketplace (commonly known as an “Exchange”). A provision of the Affordable Care Act (ACA) created…
retirement savings

Simple retirement savings options for your small business

Are you thinking about setting up a retirement savings plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved in providing a traditional pension plan? Two options to consider…
home

Home sales: How to determine your "basis"

The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your "basis". How it works You can claim an itemized deduction on your tax return for real estate…
IT support

Providing optimal IT support for remote employees

If you were to ask your IT staff about how tech support for remote employees is going, they might say something along the lines of, “Fantastic! Never better!” However, if you asked remote workers the same question about IT support, their…
hiring your child

Tax advantages of hiring your child at your small business

As a business owner, you should be aware that you can save family income and payroll taxes by hiring your child and putting them on the payroll. Here are some considerations. Shifting business earnings You can turn some of your high-taxed…