HOW TO PROTECT YOUR BUSINESS AND CUSTOMERS
Cyberthieves are everywhere
Everyone knows that having strong locks, a security alarm and perhaps a security guard will help protect your business from a physical break in. But what about the sneaky cyberthieves you can’t see coming? There are several things you must implement to protect yourself, your livelihood […]
§179 vs. BONUS DEPRECIATION
Either choice brings large deductions
Eventually all business owners will need to purchase or replace assets. When this happens, they need to determine how the cost of those assets will be recovered. Typically, the cost of business assets is recovered over their expected life through depreciation. If your goal […]
PAYROLL TAX DEFERRAL
What this means for you
On Aug. 8, 2020, a Presidential Memorandum was issued allowing employers the option to defer withholding and payment of the employee’s portion of Social Security tax if the employee’s wages are below $4,000 on a bi-weekly basis. The relief is available for employers and generally applies to wages paid […]
HANDLING BUSINESS LOSSES
CARES Act eases the rules
In 2017, the Tax Cuts and Jobs Act (TCJA) provided that net tax losses from businesses in excess of an inflation-adjusted $500,000 for joint filers, or an inflation-adjusted $250,000 for other taxpayers, are to be treated as net operating loss (NOL) carryforwards in the following tax year. This […]
WORKING FROM HOME?
Know what’s deductible
If you’re self-employed and use part of your home for business, you may be able to deduct expenses allocable to the business use. The home office deduction is available for homeowners and renters. To qualify for the deduction, you must use the space in your home regularly and exclusively […]
