Recent News & Blog / Business Tax
Understanding and controlling the unemployment tax costs of your business
As an employer, you must pay federal unemployment (FUTA) tax on amounts up to $7,000 paid to each employee as wages during the calendar year. The rate of tax imposed is 6% but can be reduced by a credit (described below). Most employers end up paying an effective FUTA tax rate of 0.6%.
The chances of an IRS audit are low, but business owners should be prepared
Many business owners ask: How can I avoid an IRS audit? The good news is that the odds against being audited are in your favor. In fiscal year 2018, the IRS audited approximately 0.6% of individuals.
How to treat your business website costs for tax purposes
These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining the proper tax treatment for the costs involved in developing a website isn’t so easy.
5 ways to withdraw cash from your corporation while avoiding dividend treatment
Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend.
2019 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
The key to retirement security is picking the right plan for your business
If you’re a small business owner or you’re involved in a start-up, you may want to set up a tax-favored retirement plan for yourself and any employees. Several types of plans are eligible for tax advantages. 401(k) plan
The tax implications of a company car
The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars.
Should you elect S corporation status?
Operating a business as an S corporation may provide many advantages, including limited liability for owners and no double taxation (at least at the federal level).
What to do if your business receives a “no-match” letter
In the past few months, many businesses and employers nationwide have received “no-match” letters from the Social Security Administration (SSA).
R&E with Angi: What activities qualify for the R & E Credit?
If you have not read our last installment on who can take the R&E Credit, please click here to read that first.