Tax Services

Small businesses enjoy several tax advantages that may allow them to reduce their tax bills, defer taxes and simplify the reporting process. Until recently, federal tax rules generally defined “small business” as one with average annual gross receipts of $5 million or less ($1 million...

The S corporation continues to be a popular entity choice, combining the liability protection of a corporation with many of the tax benefits of a partnership. But these benefits come at a price. S corporations must comply with strict requirements that limit the number and...

Businesses that acquire, construct or perform capital improvements to buildings could find additional deduction benefits through a cost segregation study. It is a strategic tool to accelerate depreciation expense. Combining tax accounting and engineering techniques allows the acceleration of certain depreciation costs, therefore reducing tax...

IRS Guidance Issued Regarding Meals and Entertainment Deductions   The IRS has issued some much-anticipated guidance on Section 274, which was significantly impacted by of the Tax Cuts and Jobs Act of 2017 (Tax Act), addressing meals and entertainment deductions. Significant tax law changes are affecting which...

In the Tax Cuts and Jobs Act of 2017 (Tax Act), changes to business taxation are considerable and comprehensive. Because many of our clients are structured as pass-through entities and small businesses, we wanted to address several of the most significant changes for 2018 tax...