For tax, accounting, and even budgeting purposes, it’s important to know the difference between a fiscal year vs calendar year. A fiscal year doesn’t always

The FAVR car allowance is a popular way for companies to compensate employees for business-related vehicle expenses. Understanding the key elements of this allowance, such as

If you’re using a company vehicle for personal reasons, it’s important to understand the tax implications. The IRS has specific rules and regulations regarding this

The home office tax deduction allows self-employed individuals and remote workers to deduct certain expenses related to their home office. However, not all expenses are

Despite all your best efforts—and those of your tax professional if you use one, your original tax return may not be the final word on

For most of the country, the March 15th S Corp filing deadline has passed. However, for the storm-ravaged states of California, Alabama, and Georgia, the

The minimis safe harbor election allows small businesses to deduct expenses that might otherwise need to be capitalized. Think of the amounts paid for things

A small business audit doesn’t necessarily mean you’ll be dealing with the Internal Revenue Service. Small business owners can conduct internal audits on an annual

John Sculley III, who was the president of PepsiCo, until he became the CEO of Apple Inc. for more than a decade, said “timing is

Taxes can be an overwhelming and daunting task, but understanding the available free tax advice in 2023 is an essential part of being financially responsible.

Estimated tax payments can be confusing, but they don’t have to be. Understanding the basics of estimated taxes and what you need to pay is