Are costs to register our trademark treated the same as defending it from a copycat?
Trademark Registration and Brand Defense Costs. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
Tax Strategy Blog: Page 4
1236 articles for business owners and real estate investors. Page 4 of 35.
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Showing articles 109–144 of 1236.
We received advertising trade credits for our work. Can we wait to report income until using them?
Trade Credits Earned Instead of Cash Payment. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
An insurer paid our employee disability benefits. Who reports the sick pay on Form W-2?
Third-party sick pay can create shared tax and reporting duties among the employer, insurer and other payers.
Our bookkeeping provider shut down and we lost access. Which records should we reconstruct first for a tax review?
Losing cloud access does not remove the business's duty to substantiate its return.
We paid for production tooling that stays at our supplier's factory. Do we own an asset?
Tooling Charges When the Supplier Keeps the Mold. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
A supplier paid a volume rebate after we sold the inventory. Is it other income or a cost adjustment?
Supplier Rebates After Inventory Has Been Sold. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
We missed a supplier's minimum purchase commitment. Can we deduct the shortfall fee?
Fees for Missing a Supplier Purchase Commitment. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
We bought a business and kept its employees. Must Social Security tax start over under the new EIN?
A new EIN does not always require Social Security wages to restart from zero.
We issued a service credit instead of a refund. Can we deduct it before the customer uses it?
Customer Account Credits for Future Services. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
We subleased half our office after downsizing. How should we separate rent income and lease costs?
Subleasing Unused Office Space: Business Records. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
We abandoned a startup project, then got a deposit back next year. How do we reconcile the costs?
Startup Deposit Refunded After Project Abandonment. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
I added my spouse to my LLC without a cash buy-in. Does our tax filing change?
The ownership transfer, state property rules and tax classification need review.
I hired my first employee. Is my solo 401(k) still appropriate?
First Employee Hired: Review Your Solo 401(k). Review the facts, records and next steps for your business.
We prepaid a software build and the developer disappeared. Can we write off the entire deposit?
Software Vendor Fails Before Delivering the System. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
My S corp repaid my loan after years of losses. Is the cash taxable?
S-Corp Loan Repayment After Deducting Losses. Review the facts, records and next steps for your business.
My S corp keeps adding unpaid interest to my loan. Is that enough?
Unpaid interest, principal advances and tax basis require separate analysis.
What happens to my shareholder loan when I sell the company?
Separate the sale of shares from repayment, assignment or forgiveness of the shareholder loan.
My old CPA never tracked debt basis. Where do we start?
Reconstruct the history from filed returns, actual advances, repayments and losses.
Two of my companies share an office. Which one deducts the rent?
The lease, use of space and payment arrangement should tell a consistent story.
Can one corporate credit card cover all my businesses?
A shared card requires transaction-level allocation and reliable settlement records.
A former employee moved before we paid severance. Can payroll use only the new address for state withholding?
A former employee's new address does not by itself determine the state sourcing or withholding of severance.
Our customer settlement combines a refund and legal-fee reimbursement. Should we book one expense?
Customer Settlements With Refunds and Legal Fees. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
Should every new product line have its own LLC for taxes?
Should Each New Product Have a Separate LLC?. Review the facts, records and next steps for your business.
I switched to S-corp taxation. Can my SEP use business profit like before?
An S-corporation SEP calculation generally uses eligible employee compensation, not shareholder distributions or a sole proprietor net-profit formula.
Can I close my company while a sale indemnity is still outstanding?
Legal dissolution, final tax returns and unresolved obligations need coordinated timing.
I gave the buyer a payment holiday. Can I skip interest income too?
Review the note amendment, accounting method and applicable interest rules.
The seller financed the whole purchase. Can I still depreciate equipment?
Depreciation on a Seller-Financed Business Purchase. Review the facts, records and next steps for your business.
As a self-employed owner, can I deduct the federal lodging per diem without proving actual hotel cost?
A self-employed taxpayer generally cannot use a federal lodging per diem as a substitute for actual lodging expenses.
The company's bank debt was forgiven after I sold my shares. Does the income belong on my K-1?
S-Corp Debt Forgiveness After a Shareholder Exit. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
We expensed equipment and also depreciated it. How do we correct the double deduction?
One Invoice in Expenses and Fixed Assets. A specific owner scenario, the facts that change the answer, and the records needed for a tax review.
My company paid state tax, but my personal return shows no credit. Why?
First identify what tax the company paid and whether the owner is eligible for a credit.
Why do I owe tax when my S corp kept the cash?
Shareholders generally report their allocated S-corporation taxable income even when the company retains the cash.
I own two S corporations. Should both pay me a salary?
Each company needs its own review of the work you perform and how you are compensated.
I stopped working in my S corp in June. Must I keep the same salary?
The review should separate the period when you actively worked from the period after your duties changed.
Our payroll provider used the wrong company EIN. Can a journal entry fix it?
A bookkeeping transfer alone does not correct wages reported under another employer's EIN.
I am taking parental leave from my S corp. What happens to owner payroll?
Review the leave arrangement, services during leave and existing compensation commitments.