Corporate business owners: Is your salary reasonable in the eyes of the IRS?
Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, ...
Continue Reading Digital assets and taxes: What you need to know
As the use of digital assets like cryptocurrencies continues to grow, so does the IRS’s scrutiny of how taxpayers report these transactions on their federal ...
Continue Reading A tax guide to choosing the right business entity
One of the most critical decisions entrepreneurs make when starting or restructuring a business is choosing the right entity type. This choice directly impacts how ...
Continue Reading No tax on car loan interest under the new law? Not exactly
Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, ...
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