Ivy Ting-Wimberly

Don’t Miss Out on the Employee Retention Credit

Don’t Miss Out on the Employee Retention Credit Your government wants your small business to survive (and likely thrive, too). Since COVID-19 struck, the government has created free and/or easy money in the form of tax credits and loans that are...

“Deduct 100 Percent of Your Business Meals under New Rules”

Deduct 100 Percent of Your Business Meals under New Rules Now, thanks to a new law enacted December 27, 2020, new IRS regulations, and a new IRS notice (yep, all three are new), you have fresh opportunities for writing off 100 percent of your business meals. For 2021...

Starting a New Business? Get Up to $100,000 in Tax-Free Money

Starting a New Business? Get Up to $100,000 in Tax-Free Money You likely already know that the employee retention credit (ERC) is a good deal—if you qualify. Now, thanks to the recently enacted American Rescue Plan Act of 2021 (ARPA), you can qualify for up to...

Remember to consider your Section 199A deduction in your year-end tax planning.

Remember to consider your Section 199A deduction in your year-end tax planning. Remember to consider your Section 199A deduction in your year-end tax planning. If you don’t, you could end up with a big fat $0 for your deduction amount. We’ll review three year-end...

Deducting Business Expenses

Deducting Business Expenses Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business operates to make a profit. What Can I Deduct? Cost of Goods Sold Capital Expenses Personal versus Business Expenses...