Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years,Read More »Emil @ ZCPA wrote: Use the tax code to make business losses less painful

If you itemize deductions on your tax return, you may wonder: What medical expenses can I include? The IRS recently issued some frequently asked questions addressing when certain costs are qualified medical expenses for federalRead More »Emil @ ZCPA: The IRS clarifies what counts as qualified medical expenses

The IRS has historically considered construction a high-risk compliance industry because of its potential for cash transactions, underreported income and worker misclassification. What’s more, as the tax agency rolls into the future under new leadership,Read More »Emil @ ZCPA explain how construction business owners can prepare for an IRS audit

One popular fringe benefit is an education assistance program that allows employees to continue learning and perhaps earn a degree with financial assistance from their employers. One way to attract, retain and motivate employees isRead More »Emil @ ZCPA explain how to education benefits help attract, retain and motivate your employees

If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice a new form reporting requirements for digital assets. Check the boxRead More »Emil @ ZCPA: Tax news for investors and users of cryptocurrency

If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corporation as compensation rather than as dividends. The reason: A corporation can deduct theRead More »Emil @ ZCPA wrote: 4 ways corporate business owners can help ensure their compensation is “reasonable”

A common question for people planning their estates or inheriting property is: For tax purposes, what’s the “cost” (or “basis”) an individual gets in property that he or she inherits from another? This is anRead More »Emil @ ZCPA: There’s a favorable “stepped-up basis” if you inherit property

If your business occupies substantial space and needs to increase or move from that space in the future, you should keep the rehabilitation tax credit in mind. This is especially true if you favor historicRead More »Emil @ ZCPA tips – Take advantage of the rehabilitation tax credit when altering or adding to business space

Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain records. You may have to produce those records if theRead More »Emil @ ZCPA: Paperwork you can toss after filing your tax return

The federal fuel tax credit recently made the news when it was referenced on the IRS’s most recent “Dirty Dozen” list of tax scams. However, the false fuel-tax-credit scam involves dishonest third parties telling individualsRead More »Emil @ ZCPA wrote: Your construction company may be able to claim the fuel tax credit

If you’re thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved, there are a couple of options to consider. Let’s takeRead More »ZCPA – Retirement saving options for your small business: Keep it simple

If you’re an art collector, you may wonder about the tax breaks available for donating a work of art to charity. Several different tax rules may come into play in connection with such contributions. BasicRead More »Emil @ ZCPA: The tax rules for donating artwork to charity