Taxesq - IRS Audit and Business Tax Estate Attorney Cherry Hill NJ

The “manufacturers’ deduction” isn’t just for manufacturersThe Section 199 deduction is intended to encourage domestic manufacturing. In fact, it’s often referred to as the “manufacturers’ deduction.” But this potentially valuable tax break can be used by many other types of businesses besides manufacturing companies.Sec. 199...

Can you defer taxes on advance payments?Many businesses receive payment in advance for goods and services. Examples include magazine subscriptions, long-term supply contracts, organization memberships, computer software licenses and gift cards.Generally, advance payments are included in taxable income in the year they’re received, even if...

Help prevent the year-end vacation-time scramble with a PTO contribution arrangementMany businesses find themselves short-staffed from Thanksgiving through December 31 as employees take time off to spend with family and friends. But if you limit how many vacation days employees can roll over to the...