As you consider shutting down your sole proprietorship or your single-member LLC treated as a sole proprietorship for tax purposes, it’s crucial to understand the tax implications of this decision.

As you consider winding down your partnership, here’s a concise overview of what you might expect under three typical scenarios of partnership dissolution.

Here’s an idea: how about transforming your next vacation into business travel?

From 2018 to 2025, the Tax Cuts and Jobs Act is offering a 20 percent deduction on pass-through business income, with specific eligibility criteria.

The Corporate Transparency Act (CTA) is upon us. It took effect on January 1, 2024, and imposes a new federal filing requirement for most corporations, limited liability companies (LLCs), and other business entities.

In most court cases, taxpayers lose vehicle expense deductions because they cannot present a credible business mileage log.

If you can convert a personal vehicle to business use, you likely can increase your tax benefits—and do that without spending any money or driving another business mile.

Here are some crucial insights into depreciation, particularly regarding business or rental assets.

We have some critical updates on the pass-through entity tax (PTET), which has recently become the rule in most states rather than the exception.

Here’s some crucial information on how to document expenses during business travel.

Strategic Insights for Employing Your Spouse

There are several tax implications that you need to be aware of when shutting down a C corporation.

Holding Real Property in a Corporation: Good or Bad Idea?

Helicopter View of 2023 Meals and Entertainment

Are You Using the Right Business Structure?