Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlinesRead More »ZCPA – 2023 Q2 tax calendar: Key deadlines for businesses and employers
Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2022 gift tax return. And in some cases, evenRead More »Emil @ ZCPA: The 2022 gift tax return deadline is coming up soon
It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the law have expired or will expire in theRead More »Emil @ ZCPA – Changes in Sec. 174 make it a good time to review the R&E strategy of your business
Have you bought stock in a company that later dropped in value? While you may prefer to forget such an ill-fated investment, at least you can claim a capital loss deduction on your tax return.Read More »Emil @ ZCPA wrote: Claiming losses on depreciated or worthless stock
One of the not-so-secret ways to run a profitable construction business is to follow sound accounting practices. Mistakes in financial reporting can be costly, potentially leading to budget overruns, cash shortfalls, delayed projects, unpaid billsRead More »Emil @ ZCPA: 11 ways your construction company can avoid accounting mistakes
Under tax law, businesses can generally deduct advertising and marketing expenses that help keep existing customers and bring in new ones. This valuable tax deduction can help businesses cut their taxes. However, in order toRead More »Emil @ ZCPA wrote How to Protect the “ordinary and necessary” advertising expenses of your business
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory awards and judgments for “personal physical injuries or physical sickness” areRead More »ZCPA: Awarded money in a lawsuit or settlement? It’s only tax-free in certain circumstances
If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this year than you’d get from a smaller vehicle.Read More »ZCPA: Buying a new business vehicle? A heavy SUV is a tax-smart choice
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re eligible, you can make aRead More »ZCPA: There still may be time to make an IRA contribution for last year
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re self-employed and run your businessRead More »ZCPA: Do you run a business from home? You may be able to deduct home office expenses
Even before the pandemic and “the Great Resignation” that followed, construction businesses were facing a shortage of skilled workers. Recent events have only exacerbated the problem. And the skilled labor shortage doesn’t just make itRead More »Emil @ ZCPA: How construction companies can cope with the skilled labor shortage
If you’re a parent, you may be confused about the rules for claiming the Child Tax Credit (CTC). The rules and credit amounts have changed significantly over the last six years. This tax break becameRead More »ZCPA – Child tax credit: The rules keep changing but it’s still valuable