by KLPCPA | May 9, 2019 | Small Business, Taxes
Call Now Setup an Appointment 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...
by KLPCPA | Apr 23, 2019 | Small Business, Taxes
Call Now Setup an Appointment Have you recently started a new business? Or are you contemplating starting one? Launching a new venture is a hectic, exciting time. And as you know, before you even open the doors, you generally have to spend a lot of money. You may have...
by KLPCPA | Apr 11, 2019 | Small Business, Taxes
Call Now Setup an Appointment If you’re getting a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest personal assets and your marital...
by KLPCPA | Mar 11, 2019 | Small Business, Taxes
If you own a business and don’t have a tax-advantaged retirement plan, it’s not too late to establish one and reduce your 2018 tax bill. A Simplified Employee Pension (SEP) can still be set up for 2018, and you can make contributions to it that you can deduct on your...
by KLPCPA | Feb 25, 2019 | Small Business, Taxes
Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March...
by KLPCPA | Feb 4, 2019 | Small Business, Taxes
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land isn’t depreciable.) But special tax breaks that allow deductions to be taken more...
