Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to...
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Is a Health Savings Account right for you?
Given the escalating cost of health care, there may be a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account...
Tax depreciation rules for business automobiles
If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and...
Selling a home: Will you owe tax on the profit?
Many homeowners across the country have seen their home values increase recently. According to the National Association of Realtors, the median...
Tax breaks to consider during National Small Business Week
The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are...
Planning for year-end gifts with the gift tax annual exclusion
As we approach the holidays and the end of the year, many people may want to make gifts of cash or stock to their loved ones. By properly using the...
Claiming a theft loss deduction if your business is the victim of embezzlement
A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but...
You can only claim a casualty loss tax deduction in certain situations
In recent weeks, some Americans have been victimized by hurricanes, severe storms, flooding, wildfires and other disasters. No matter where you...
Want to find out what IRS auditors know about your business industry?
In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer’s return....
Getting a divorce? Be aware of tax implications if you own a business.
If you’re a business owner and you’re getting a divorce, tax issues can complicate matters. Your business ownership interest is one of your biggest...
Does your employer provide life insurance?
Here are the tax consequences Employer-provided life insurance is a coveted fringe benefit. However, if group term life insurance is part of your...
Employee Retention Credit (ERC) Worth It?
Are you familiar with the Employee Retention Credit (ERC)? If not, you may be missing out on thousands, tens of thousands, maybe even hundreds of...
ABLE accounts may help disabled or blind family members
There may be a tax-advantaged way for people to save for the needs of family members with disabilities — without having them lose eligibility...
Possible tax consequences of guaranteeing a loan to your corporation
What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser or indemnitor of a...
Les Nosal’s Business Negotiation Skills FTW
Alright Omaha business owners, we’re going to move aside from tax-related things today (though there will be PLENTY to talk about as Congressional...
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