Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high…
Your business can set up an education plan that can give each eligible employee up to $5,250 in annual federal-income-tax-free and federal-payroll-tax-free benefits. These tax-favored…
Suppose you’re thinking about setting up retirement plans for yourself and your employees. However, you’re concerned about the financial commitment and administrative burdens involved. There…
With summer fast approaching, you might be considering hiring young people at your small business. If your children are also looking to earn some extra…
“Nexus” is a fancy Latin word that refers to the relationship of a taxing jurisdiction that enables it to subject your business to taxation. In…
President Trump’s “Liberation Day” announcement of global tariffs caught businesses, as well as foreign countries and worldwide financial markets, off guard. While the president has…
On April 1, 2025, the Financial Accounting Standards Board (FASB) released a staff educational paper to address questions surrounding how to apply revenue recognition guidance…
Preconstruction can make the difference between a project’s success or failure — and a contractor’s profit or loss. Although it’s helpful to consider as many…
They say there are two kinds of contractors these days: one that uses a drone and another with a drone on back order. It’s debatable…
Among the most common challenges of any long-term construction project are fluctuating job costs. However, variations in the cost of materials and labor over time…