April 13, 2017
Steve Grgas
Blog Posts
0 CommentsHow do I? Maximize start-up deductions for a new business Starting a new business venture can prove exciting, but rather costly. There are certain tax advantages that can help alleviate some of the financial burden associated with entrepreneurship. A taxpayer may start a business by forming an entirely new business or acquiring an existing business. […]
Read moreFebruary 13, 2017Steve GrgasBlog Posts0 CommentsWhite House, Capitol Hill talk tax reform in 2017 The change in administrations in Washington has generated a new focus on tax reform. The White House and lawmakers from both parties have discussed tax cuts, infrastructure spending, and more to encourage economic growth. However, the details of their plans have yet to be revealed. Tax […]
Read moreFebruary 13, 2017Steve GrgasBlog Posts0 CommentsHow Do I? Establish a profit motive for business activities The IRS has rules that limit the deductibility of expenses and losses from a hobby or activity not engaged in for profit. If the IRS determines that an activity is not profit-driven, deductions from the activity are limited to the amount of income the activity […]
Read moreFebruary 13, 2017Steve GrgasBlog Posts0 CommentsFAQ: What is transferee tax liability? The prudent businessperson is always cautious when he or she is offered a great bargain on real estate, equipment, a business interest, or some other property that just might be too good to be true. Even in connection with ordinary business transactions but especially when considering taking over a […]
Read moreFebruary 13, 2017Steve GrgasBlog Posts0 CommentsFebruary 2017 tax compliance calendar As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of February 2017. February 1 Employers. Semi-weekly depositors must deposit employment […]
Read moreDecember 13, 2016Steve GrgasBlog Posts0 Comments2016 year-end tax strategies with tax cuts on the horizon The likelihood exists that federal tax-cut legislation will become law sometime in 2017. Nevertheless, the possibility also remains that comprehensive tax legislation may be delayed until 2018 either because of difficult negotiations or intervening events, or it could eventually even get tabled indefinitely, except for […]
Read moreOctober 25, 2016Steve GrgasBlog Posts0 CommentsBusiness identity theft, tax consequences and best practices Facilitated by the speed, ubiquity, and anonymity of the Internet, criminals are able to easily steal valuable information such as Social Security numbers and use it for a variety of nefarious purposes, including filing false tax returns to generate refunds from the IRS. The victims are often […]
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