These days, most businesses need a website to remain competitive. It’s an easy decision to set one up and maintain it. But determining the proper tax treatment for the costs involved in developing a website isn’t so easy. That’s because the IRS hasn’t released any official guidance on these costs yet. Consequently, you must apply existing [...]
Do you want to withdraw cash from your closely held corporation at a low tax cost? The easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient, since it’s taxable to you to the extent of your corporation’s “earnings and profits.” But it’s not deductible by the corporation. Different approaches Fortunately, [...]
Everyone needs to think about succession planning and planning for retirement. But as a business owner, you face a distinctive challenge: you must save for your golden years while creating, updating, and eventually executing a succession plan. This is no easy task, but you can put the puzzle pieces together by answering some fundamental questions:When do [...]
