Intangible Assets

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes…

The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some…

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner… An owner…

tax on savings bonds

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe…

computer and software costs

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to…

adoption tax benefits

Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim…

Health Savings Account 2023 limits illustrated by green piggy bank

No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide…

inflation 2023

The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were…

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up…

planned gifts

Are you feeling generous at year end? Taxpayers can transfer substantial amounts free of gift taxes to their children or other recipients…

Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have…

tax free bonds

If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally…

You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications…

tax-advantaged saving

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs,…

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little…

inflation reduction act 2022

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether…

inflation reduction act

The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, contains many provisions related to climate, energy and…

solo 401k

Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want…

innocent spouse tax rule

When a married couple files a joint tax return, each spouse is “jointly and severally” liable for the full amount of tax…

type of business tax purposes

The business entity you choose can affect your taxes, your personal liability and other issues. A limited liability company (LLC) is somewhat…

Matthew Koppen Laciak CPA

Tell us your full name, and the term of your internship with Laciak>cpa: My full name is Matthew Koppen…

business requirements

As you’re aware, certain employers are required to report information related to their employees’ health coverage. Does your business have to comply,…

website costs tax

These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when website costs can be deducted.

early withdrawal penalty IRA

When you take withdrawals from your traditional IRA, you probably know that they’re taxable. But there may be a penalty tax on…

small business tax breaks

Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses.…

tax aspects of like-kind exchanges

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it…

electric vehicle tax credit

Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while they’re…

tax obligations going out of business

Sadly, many businesses have been forced to shut down recently due to the pandemic and the economy. If this is your situation,…

mergers and acquisitions

Although merger and acquisition activity has been down in 2022, according to various reports, there are still companies being bought and sold.…

vehicle expense tax deductions

It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also can deduct them in certain circumstances. Unfortunately,…

q3 2022 tax deadline calendar
News /

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind…

Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide…

estate tax planning

As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned…

dividends-received deduction

There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or…

social security tax update

Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts…

research tax credit for businesses

Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits,…

calculating corporate estimated tax

The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules…

series ee bonds

Many people own Series E and Series EE bonds that were bought many years ago. They may rarely look at them or…

Are you a partner in a business? You may have come across a situation that’s puzzling. In a given year, you may…

qualified charitable distribution

Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax…

1099k employees

Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall…

inflation affecting HSAs

The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next…

The IRS has begun mailing notices to businesses, financial institutions and other payers that filed certain returns with information that doesn’t match…

hobby into business tax rules

Like many people, you may have dreamed of turning a hobby into a regular business. You won’t have any tax headaches if…

What are the tax consequences of selling property used in your trade or business? There are many rules that…

business partnership

Adding a new partner in a partnership has several financial and legal implications. Let’s say you and your partners are planning to…