If your company has a qualified retirement plan or you have set one up in self employment — such as a 401(k), profit-sharing, or Keogh plan — the participants might be allowed to borrow from …
Tax Consequences of Borrowing From a Retirement Plan Read More
Unfortunately, many businesses have already been forced to close their doors due to the economic fallout from COVID-19, and more will surely follow. Closing a business has important federal income …
The Tax Implications of Closing a Schedule C Business Read More
If your business is in a position to acquire equipment or machinery, management faces a tough decision: Should you lease it, or should you buy it? There’s no universal “right” answer. …
Most people aren’t currently exposed to the federal estate tax, thanks to the generous unified federal estate and gift tax exemptions. However, there are still good reasons to review your estate …
Small business owners still have time to make tax planning moves to lower their 2020 federal income tax bills — and possibly lay the groundwork to save taxes in future years. …
2020 Year-End Tax Planning Ideas for Small Businesses Read More
