by meesekhan | Feb 24, 2020 | 2020 Tax Information
What is an accountable plan? An accountable plan is an expense reimbursement or allowance arrangement that requires employees to substantiate expenses and return unsubstantiated advances. With the plan, the reimbursements are tax-free to recipient employees. And the...
by meesekhan | Feb 17, 2020 | 2020 Tax Information
Do you sponsor a sports team, or have you thought about sponsoring one? This kind of sponsorship can be great PR for your company and position you as a community-minded citizen. But what are the tax implications of becoming a team sponsor? What are the relevant...
by meesekhan | Feb 14, 2020 | 2020 Tax Information
Here are a few ways we can help: How to determine if you should operate as an S corporation to take better advantage of the 20 percent deduction in the new tax code Section 199A. How to use an IRS-approved method to set your salaries for excellent tax savings. The...
by meesekhan | Feb 6, 2020 | 2020 Tax Information
Wow, New 20 Percent Deduction for Business Income Here’s some really good news and it’s a big deal. . . Section 199A of the new tax code lets you claim a deduction against your IRS 1040 taxable income of up to 20% of your qualified business income. Three...
by meesekhan | Jan 23, 2020 | Blog
What form of business makes the most sense for you? A general partnership? A multi-member LLC taxed as a partnership? An S-corporation? A C-corporation? Meese Khan can help explore your choices and take a closer look at multi-member LLCs treated as partnerships for...
by meesekhan | Jan 21, 2020 | 2020 Tax Information
You can take advantage of some valuable tax deductions you might have overlooked. That’s right. If you know the IRS rules (and we do!), your currently-owned business cars, SUVs, trucks, and vans, (and even your personal vehicles!), can be the source of...
