What Happens if the IRS Disallows Your Business Deductions?
Depending on your business structure and its overall success, the deductions you are able to make when filing your taxes can drastically affect your final tax responsibilities. Businesses can write off expenses related to meetings, advertising and even office...
How Much Can a Corporation Write Off in Charitable Giving?
Most people barely understand the tax rules that apply to them as individuals, so it is little surprise that corporate tax law leaves many people feeling overwhelmed and confused. Even someone who is confident about filing their personal income tax return with modern...
Can Starting a Second Corporation Help Your Business Avoid Taxes?
The more revenue your business generates, the more you have to plan to minimize your tax obligations. In addition to withholding income tax payments for workers, your company will need to pay taxes based on its overall income. A good financial system can drastically...
Could You Be Facing an IRS Audit Soon?
The head of the Internal Revenue Service (IRS) announced in mid-April that the federal agency planned to crack down on tax compliance of wealthy individuals and corporations. When asked for his plans to do so, he noted that the top 1% of these two entities fail to pay...
The Problem with Trying to Maximize Business Tax Write-Offs
Businesses have an obligation to their shareholders to turn as much of a profit as possible. Minimizing liabilities and obligations can be a big part of the company's strategy for maximizing revenue. Taxation can be a major liability for successful businesses, but...