The Tax & Business Letter is online at


Imagine this: your Schedule C business buys a home at the beach, uses it solely as an entertainment facility for business, pays off the mortgage, and deducts all the expenses. Next, say, 10 years later, without any tax consequence to you, you start using the beach home as your own... read more >
As a small-business owner, you probably incur work-related education expenses from time to time. You may even decide to pursue an advanced degree, such as a Master of Business Administration (MBA). You likely want your employees to be on a path of continuous improvement... read more >
For most small businesses and the self-employed, the 20 percent tax deduction from new tax code Section 199A is the most valuable tax deduction to come out of the Tax Cuts and Jobs Act tax reform. The Section 199A tax deduction is complicated, and many questions remain unanswered even more >
For quite some time I worked without a logo for my CPA firm. In 2005, I joined my father and we had our name on some makeshift letterhead and got by with only that for a couple of years. Around 10+ years ago, my client, Lalita with GuruKrew, came to me and told me that she thought I needed a logo... read more >
Do you need to think about the alternative minimum tax? You may not have thought much about the alternative minimum tax, or AMT, since Congress passed a law that permanently fixed the exemption. But the tax, which you calculate separately from your regular tax liability, is still around. Here’s more >
Tax bracket, tax rate, what’s the difference? The difference between your tax bracket and your tax rate is more than a trick question. For example, knowing your tax rate gives you an accurate reflection of your tax liability in relation to your total income. Knowing your tax bracket is useful for... read more >
Are you starting a new business in the new year? Put these items on your to-do list. Business plan. Outline who will own the business and what the legal form will be, your qualifications to run the business, the competitive market you face, the products or services you will sell, and... read more >
Liability, property, vehicles, directors, officers, employees – you can buy an insurance policy for many of the risks your business faces. While going without insurance is generally a penny-wise, pound-foolish decision, considering ways you can reduce the cost of your premiums makes sense... read more >
The consequences of being taken in by a scammer include three types of costs, according to a survey by the Financial Industry Regulatory Authority's Investor Education Foundation. In addition to the money lost in the fraud, victims generally incur legal and other fees to clean up... read more >
Deciding when to buy a stock is often easier than determining when to sell. As you're reviewing your portfolio at year-end, consider these situations that may indicate the right time to sell.When there are no tax consequences: If you hold stock in a retirement fund... read more >