If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s important to avoid certain risks and charge anRead More »Consider borrowing from your corporation but structure the deal carefully
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that applyRead More »2024 Q3 tax calendar: Key deadlines for businesses and other employers
With school out, you might be hiring your child to work at your company. In addition to giving your son or daughter some business knowledge, you and your child could reap some tax advantages. BenefitsRead More »Hiring your child to work at your business this summer
The next quarterly estimated tax payment deadline is June 17 for individuals and businesses, so it’s a good time to review the rules for computing corporate federal estimated payments. You want your business to pay theRead More »Figuring corporate estimated tax
The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier in the year than otherRead More »Inflation enhances the 2025 amounts for Health Savings Accounts
After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes. You can potentially structure the purchaseRead More »Emil @ ZCPA gives you Tax tips when buying the assets of a business
Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations and S corporations. In some cases, a businessRead More »Should you convert your business from a C to an S corporation?
Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know that the federal tax code treats corporate debtRead More »The tax advantages of including debt in a C corporation capital structure
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are planning to admit a new partner. The new partner willRead More »Growing your business with a new partner: Here are some tax considerations
It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as an architecture or law firm. For example, partners in serviceRead More »When partners pay expenses related to the business
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise to do the opposite? And why would you want to? OneRead More »When businesses may want to take a contrary approach with income and deductions
If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. For example, if you’re self-employed and setRead More »Emil @ ZCPA wrote – Don’t have a tax-favored retirement plan? Set one up now