You want to sell property that was used in your trade or business, but what will the tax consequences of that sale be? The answer: it depends. There are many rules that could potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to sell is […]
Author Archive: rudleradmin
Tips for a successful pitch deck when looking for outside investors
As you are starting your business or as your business grows you may see the need for funding from outside investors. Whatever the case may be, you want to have a plan in place to catch the investors interest with your vision, financials and business plan. To do so, many businesses today put together a […]
What to consider when converting your home into a rental property
If you are in the midst of a move, you may be considering converting it to a rental property instead. Just like there are financial risks and rewards to taking this step, there are also tax benefits and pitfalls that you should be aware of. You’re generally treated as a regular real estate landlord once […]
Thinking of adding a new partner to your business? Don’t overlook these tax considerations
It may seem like adding a new partner to your business is as easy as adjusting your ownership percentages and adding their name to the tax return, but there are many things to consider when taking this step. Not as simple as it seems Although the entry of a new partner appears to be a […]
Don’t forget about child labor laws when hiring for summer!
Summer is almost here which means school is almost out. The youth will soon be on their job search for the summer, if they are not already. There are a few items in particular that you should brush up on if you will be hiring minors. Finer points of the FLSA The Department of Labor […]
Three issues that may arise after your tax returns have been filed that you may not know how to handle
Taxpayers still have questions after their tax returns have been filed. 3 questions in particular are common: “What can I throw away?”, “What is the status of my refund?”, “What if I forgot to report something?”. If you find yourself having these questions, read on. 1. You can throw some tax records away now You […]
Potential tax issues to consider when converting from a C to an S Corp
As always, there are tax advantages and disadvantages depending on what type of entity you establish your business as. One common occurrence is a business converting from a C corporation to an S corporation. However, one should know that it could potentially be costly even with some tax advantages of doing so. Here’s a quick […]
Let’s prepare your small to midsized business for artificial intelligence, that way when the machines take over the (business) world, you aren’t left behind.
Artificial Intelligence (AI) is quite the buzzword these days and you might think that AI is only going to impact large businesses for the foreseeable future. Well, buckle up because you are getting on this ride whether you like it or not! Small to midsized businesses (SMB) need to be ready, sooner rather than later.
Are you involved in the high stakes, cutthroat world of mutual fund investing? Well Mr. Dan Bilzerian, buckle in and let’s chat about the tax implications.
Do you currently or have you thought about investing in mutual funds? According to the Investment Company Institute, a survey found 58.7 million households owned mutual funds in mid-2020. But despite their popularity, the tax rules involved in selling mutual fund shares can be complex. What are the basic tax rules? Let’s say you […]
Uncle Sam wants you to eat out more. So support your local restaurants and deduct the whole bill.
One provision of the new COVID-19 relief bills, is an increase to the business meals deduction. This means, for 2022 (and 2021) you can deduct 100% of your business meals instead of the 50% limitation that is normal deduction. So, indulge your customers and your team with some birria tacos or feta pasta. Then write […]