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April 10, 2011

Jim Smith and 2 other people answered this question

What type of entity should a small business owner use?

We wrote an extensive post on this topic at capgenius.com. Given the 4,000 character limit I will include some of that article below, as well as a link to the post if you want to read more details. The article does not consider the S-Corp ... more

Jan. 5, 2011

Tyler Wells, CPA answered this question

Are there provisions of the Bush tax cuts that were not extended?

Adoption credits come to mind, and the additional standard deduction for real property taxes for non-itemizers (both only applicable to 1040s and not business returns). Maybe others will chime in with more. more

Jan. 5, 2011

Tyler Wells, CPA answered this question

Should I run my taxes to zero, if I can?

Why stop at zero, why not go negative? My personal philosophy is to deduct every legitimate expense and to maintain adequate records with the proper substantiation and documentation. Then if the IRS wants to start a fight about anything I tell "What, you want some ... more

Jan. 5, 2011

Tyler Wells, CPA answered this question

What is happening with the capital gains and qualified dividends tax rates? How do they impact SMBs?

Due to the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 2009 rates for capital gains and qualified dividends will continue to be in effect through 2012. more

Jan. 5, 2011

Tyler Wells, CPA answered this question

Which is better--section 179 or bonus depreciation?

This depends upon your situation. For select fixed assets placed in service from September 9, 2010 through the end of 2011, 100% of the purchase price of the asset may be depreciated in the year of purchase. For the entrepreneurs with smaller businesses this is ... more

Jan. 5, 2011

Ken Kaufman asked a question

How do you know if your professional is working for you?

Jan. 5, 2011

Ken Kaufman asked a question

What is AMT and how did recent legislation impact it? Are there ways around it? Can you plan for it?

Jan. 5, 2011

Ken Kaufman asked a question

What are the significant changes in the estate tax laws that apply to small business owners?

Jan. 5, 2011

Ken Kaufman asked a question

What enforcement areas is the IRS looking at relative to LLCs and S-corps, commonly used by SMBs?

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