In today’s economy, many small business owners sometimes look to the oldest form of commerce – the exchange of goods and services, or bartering. We want to remind small business owners that the fair market value of property or services received through barter is taxable income. Bartering is the trading of one product or service […]

Every business needs to carry various forms of business insurance. No company wants to pay the price of not holding insurance. However, this does not mean you should pay an immense cost just to protect your business. Review this list of top five steps to help reduce your insurance cost without sacrificing the quality of […]

There is still time to make an IRA contribution and reduce your tax bill for your 2021 tax return. If you meet the following eligibility qualifications you may be able to lower your tax bill. If you’re eligible, you can make a deductible contribution to a traditional IRA right up until the April 18, 2022, […]

A valuable way to reduce tax for your business is the research and development (R&D) credit. The credit is for costs related to increasing research activities and certain small businesses can elect to apply the R&D credit against payroll taxes. This credit can involve extremely complex calculations. Rudler is here to help ease the burden […]

When you first think of the word leakage, your first thought is usually something negative. This is indeed true when talking about retirement planning as well. In this context, leakage refers to early, pre-retirement withdrawals from an account. Now, as a business owner who sponsors a qualified retirement plan, you might say, “Well, that’s my […]

Do you make substantial gifts for the year to anyone such as children, grandchildren, or other heirs. It is important that you determine whether or not a gift tax return needs to be filed. In some cases, even if you do not have to file a gift tax return it might be beneficial to do […]

Does your spouse travel with you when you go on a business trip? Can your spouse’s expenses be deducted? If you own a business and your spouse likes to join you on your business trips, this is a question that you might be wondering. The rules for deducting a spouse’s travel costs are very restrictive.

The changes in technology are evolving rapidly and has made it troublesome for business owners to adapt to these changes. In order to stay competitive, you must be willing to expend your financial resources. Strange as it may sound, technology upgrades demand a bit of soul searching. That is, before spending the money, you need […]

Most married couples want to know the best option when choosing between filing joint or separate. The answer depends on which status results in the lowest tax. But you need to acknowledge that, if you and your spouse file a joint return, each of you is “jointly and severally” liable for the tax on your […]

Are you planning to withdraw cash from your closely held corporation and don’t want to incur any additional costs? The easiest route most corporations take is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient since it’s taxable to you to the extent of your corporation’s “earnings and profits.” It’s also not […]