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The Tax Rules for Employee Awards
If you want to boost employees’ spirits without significant costs, an awards program is a low-cost fringe benefit, but some tax rules apply.

David Thomson, CPA
Oct 15, 20242 min read


Independent Contractors: Classify Carefully
Many businesses use independent contractors to help keep their costs down and provide flexibility for short-term needs. But the question...

David Thomson, CPA
Jul 9, 20243 min read


Business Write-offs Explained
If you check the Internal Revenue Code, you may be surprised to find that most business deductions aren’t specifically listed there. For...

David Thomson, CPA
Jun 4, 20243 min read


The Benefits of Hiring your Children
If you're a small-business owner and you hire your children this summer, you may be able to secure tax breaks and other nontax benefits.

David Thomson, CPA
May 15, 20242 min read


3 Ways Your Business Can Cut Costs
Every business wants to cut costs, but it isn't easy. We're talking about clear ways to lower expenses, strengthening cash flow and profits.

David Thomson, CPA
May 1, 20242 min read


The Importance of Compensation Structure for Business Owners
As a business owner of a C corporation, here are 4 steps to ensure your compensation is "reasonable" for IRS compliance purposes.

David Thomson, CPA
Apr 8, 20242 min read


Hiring? How to Benefit from the Work Opportunity Tax Credit
If you’re a business owner or manager who is seeking to hire, you should be aware of the details of a valuable tax credit for hiring...

David Thomson, CPA
Mar 12, 20242 min read


Retirement Plan Options for Your Small Business
If you’re looking for a retirement plan for yourself and your employees but worried about the financial commitment and administrative...

David Thomson, CPA
Mar 5, 20243 min read


The Corporate Transparency Act
Effective January 1, 2024, many companies in the United States must report information about their beneficial owners—the individuals who...

David Thomson, CPA
Feb 27, 20242 min read


How to Secure a Tax Benefit with the QBI Deduction
QBI may sound like the name of a TV quiz show. But it's actually the acronym for "qualified business income," which can trigger a tax...

David Thomson, CPA
Feb 3, 20242 min read


Traveling for Business in 2024? What's Deductible?
If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain...

David Thomson, CPA
Feb 1, 20243 min read


Big Tax Cuts for Texas
This month, the Texas legislature passed a sweeping bill to provide $18 Billion in tax cuts for Texas homeowners and small businesses. ...

David Thomson, CPA
Jul 26, 20232 min read
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