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Two Valuable Year-End Tax-Saving Tools for Your Business

At this time of year, many business owners ask if there’s anything they can do to save tax for the year. Under current tax law, there are two valuable depreciation-related tax breaks that may help your business reduce its 2019 tax liability. To benefit from these deductions, you must buy eligible…

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IRS Issues an Update to Mileage Deduction Rules

The IRS has issued new guidance regarding the rules for using standard mileage rates when calculating "above-the-line" deductions for specific automobile operating costs. This new guidance also lays out rules — IRS Revenue Procedure 2019-46 — for establishing reimbursement of employee…

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Measuring Equity-Based Awards' Fair Value

Stock options and other forms of equity-based compensation are often awarded by cash-strapped start-ups and high growth firms to attract and retain skilled employees. These rewards can also provide incentives to boost performance and add value. However, there’s a downside: accounting for these…

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The Tax Implications If Your Business Engages in Environmental Cleanup

If your company faces the need to “remediate” or clean up environmental contamination, the money you spend can be deductible on your tax return as ordinary and necessary business expenses. Of course, you want to claim the maximum immediate income tax benefits possible for the expenses you incur.

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Is Investing in Secondaries Right for You? Part 2

For years, secondary funds were the poor, forgotten cousin of alternative investment funds. The secondaries market had limited activity, mainly from limited partners (LP) trying to exit their investments in old closed-end funds.

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SEC Extension Allows Companies to "Test the Water"

Has your company ever considered issuing public stock? The Securities and Exchange Commission (SEC) recently adopted a rule that would extend the Jumpstart Our Business Startups (JOBS) Act’s “test-the-waters” provision to all companies, encouraging more of them to consider public offerings.

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Golden Piggy Bank on Income Tax Form

Small Businesses: Get Ready for Your 1099-MISC Reporting Requirements

A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors and others. You may have to send 1099-MISC forms to those whom you pay nonemployee compensation, as well as file copies with the IRS. This task can be…

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