by Justin Juknelis | Jun 24, 2019 | Uncategorized
The Tax Cuts and Jobs Act (TCJA) has changed the landscape for business taxpayers. That’s because the law introduced a flat 21% federal income tax rate for C corporations. Under prior law, profitable C corporations paid up to 35%. The TCJA also cut individual income...
by Justin Juknelis | Jun 12, 2019 | Uncategorized
If the employees come from certain “targeted groups,” you may be eligible for the Work Opportunity Tax Credit (WOTC). This includes youth whom you bring in this summer for two or three months. As an employer you may be able to claim a maximum credit of $2,400 to...
by Justin Juknelis | May 31, 2019 | Uncategorized
Tax-smart domestic travel: Combining business with pleasure Summer is just around the corner, so you might be thinking about getting some vacation time. If you’re self-employed or a business owner, you have a golden opportunity to combine a business trip with a few...
by Justin Juknelis | May 22, 2019 | Uncategorized
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. It doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses...
by Justin Juknelis | May 22, 2019 | Uncategorized
If you’re a business owner and you hire your children (or grandchildren) this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, save for college and learn how to manage money. And you may be able to: Shift your...
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