by hello@thatssmartbusiness.com | Dec 24, 2022 | Uncategorized
The federal government wants you to go green if you own a commercial or residential rental building. The newly enacted Inflation Reduction Act extends and expands valuable tax credits for solar panels or other renewable energy installations and electric vehicle...
by hello@thatssmartbusiness.com | Dec 17, 2022 | Uncategorized
At first glance, the corporate tax rules for forming an S corporation appear simple. They are not. Basic Requirements Here is what your business must look like when it operates as an S corporation: The S corporation must be a domestic...
by hello@thatssmartbusiness.com | Dec 14, 2022 | Uncategorized
If you had W-2 employees in 2020 and/or 2021, you need to look at the Employee Retention Credit (ERC). As you likely know, it’s not too late to file for the ERC. And now is a good time to get this done. You can qualify for 2020 credits of up to $5,000...
by hello@thatssmartbusiness.com | Dec 5, 2022 | Uncategorized
,,All good things must come to an end. On December 31, 2022, one of the best tax deductions ever for businesses will end: 100 percent bonus depreciation. Since late 2017, businesses have used bonus depreciation to deduct 100 percent of the cost of most types of...
by hello@thatssmartbusiness.com | Nov 25, 2022 | Uncategorized
Inflation is seldom a good thing.But when it comes to investing, the U.S. Treasury Department has an inflation opportunity that’s downright amazing. You can buy bonds that pay 9.62 percent—tax-deferred—with no downside risk, and with no state or local income taxes...
