Tags » Small Business Taxes

De Minimis or 179 Expensing or Bonus Depreciation?

Before tax reform, many Chicago small business tax preparation pros thought that the de minimis safe harbor election was the best way to immediately expense the entire cost of your small-business assets for federal income tax purposes. 201 more words

5 Steps To Take When Someone Illegally Uses Your Child's Social Security Number On A Tax Return.

Author Trudy M. Howard

It’s the end of tax season, you’ve finally gotten all of your documents together, and then it happens; your electronically filed tax return is rejected. 351 more words

5 last-minute strategies you can use to cut your 2018 tax bill!

Trudy Howard

In my South Loop Chicago Tax Preparation office, I often see clients looking for tax savings at years end. Although December 26th is cutting it close, your year-end… 443 more words

Ford government’s first fiscal update sees Ontario changing business tax policies

The Ontario government put forward a fiscal and economic update on Thursday that the ruling Progressive Conservatives say is intended to try to restore the province’s edge when it comes to business taxes. 629 more words


How Entrepreneurs Can Significantly Reduce 2018 Taxes by Choosing the Right Business Entity | Entrepreneur

If you’re confused about what type of business entity to set up — entrepreneur or contractor — under the new Tax Cuts & Jobs Act of 2017, you’re not alone. 55 more words

Tools And Information

Let the music pay: Why composers are celebrating this small business tax deduction case

This week marked the one-year anniversary of the launch of the government’s much-maligned plan to overhaul the tax rules governing Canadian controlled private corporations (CCPCs), which originally proposed to shut down three areas: income sprinkling of dividends among family members, the accumulation of passive income inside of CCPCs, and surplus stripping, whereby dividend income is effectively converted into lower-taxed capital gains. 967 more words

Personal Finance