by meesekhan | Mar 30, 2020 | 2020 Tax Information, Blog, CARES ACT COVID-18
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The $2 trillion dollar stimulus is aimed at providing much-needed relief to the American people and businesses in response to the economic crisis as...
by meesekhan | Mar 23, 2020 | 2020 Tax Information
C corporations cause double taxation for business owners, so you probably think you want to avoid them at all costs. And for many of you, this is true, as the S corporation often provides the lower overall tax outcome. But for some business owners, the C corporation...
by meesekhan | Mar 16, 2020 | 2020 Tax Information
Husbands and wives often participate together in business ventures. “What are the tax implications of unincorporated husband-wife business activity?” you ask. Good question. Partnership Tax Status is Unfavorable for Husband-Wife Business when both members of a...
by meesekhan | Mar 9, 2020 | 2020 Tax Information, Blog
The Section 105 medical reimbursement plan was a great option for small businesses that wanted to provide health care coverage to their employees—until a change destroyed much of the benefit by requiring the plans to provide the Affordable Care Act (ACA)-compliant...
by meesekhan | Mar 2, 2020 | 2020 Tax Information
Be sure to follow the special IRS rules that allow you to deduct your health insurance premiums. These rules are particularly important if your S corporation employs your parents and/or non-dependent children who don’t own any stock in your corporation. And be...
