Tax Hints

A qualified charitable organization is a nonprofit entity that has been granted tax-exempt status by the Internal Revenue Service (IRS). These organizations serve various purposes, such as…

Research and development (R&D) plays a crucial role in driving innovation and growth for businesses. However, understanding how to account for R&D expenses can be complex due…

The Research and Development (R&D) tax credit is a valuable incentive offered by the federal government to businesses investing in innovation. This tax credit encourages companies to…

An S corp election, or becoming an S corporation, is a tax designation that provides financial and operational benefits to qualifying small business corporations. S corporations differ…

Maximizing deductible auto expenses is essential for business owners and self-employed individuals who utilize their vehicles for work purposes. With the proper know-how, one can ensure that…

Mileage rates are an essential topic for individuals and businesses that use vehicles for various purposes. The Internal Revenue Service (IRS) sets standard mileage rates annually, which…

Missing the tax deadline is a common issue faced by taxpayers, and it’s essential to understand the implications and solutions for this situation. The Internal Revenue Service…

Starting a business in New York State can be both exciting and challenging. It requires plenty of effort and careful planning, one of the most important aspects…

When it comes to filing taxes, many taxpayers may wonder about the possibility of claiming tax deductions without having receipts to back them up. While it’s generally…

Non-deductible expenses are an essential concept to grasp for business owners, as understanding what can and cannot be deducted from taxable income affects their financial bottom line.…

In today’s increasingly remote and distributed workforce, employers often find themselves managing employees who live and work in different states. This presents unique challenges, particularly when it…

Limited Liability Companies (LLCs) offer business owners an attractive blend of legal protection and favorable tax treatment. As a popular and flexible business structure, LLCs provide personal…