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Do you own any of your employer’s company stock inside your employer’s 401(k), ESOP, profit sharing plan, or other retirement plan? Has it gone up in value since you got it? If so, you should start thinking about what to do with the stock when you retire or leave your employer. Your decision can have big tax consequences.

Cryptocurrencies have gone mainstream. For example, you can use bitcoin to buy far more than you would think. To see, try googling “What can I buy with bitcoin?” You will get more than 350,000 hits. But using cryptocurrencies has federal income tax implications that may surprise you.

When you buy business or investment real property, such as an apartment building, you usually pay one lump sum for land, buildings, and other improvements. There’s no cost breakdown. You can’t depreciate land because it doesn’t wear out. So, as far as depreciation goes, land is useless.What you need is a way to take that lump sum and allocate it to land, buildings, improvements, and equipment.

Have you missed partying and having business meals with your prospects, customers, and employees? Well, get ready to start again. Soon, COVID-19 will behind us. It could be just a few short months away.

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 $100,000 of ERC in the third and fourth quarters of 2021.

When tax season comes around, we all start to feel a little on edge. This can be even more intense for business owners, as the variety of complications — and the stakes for those complications — go way up when you’re managing a company’s taxes. The anxiety can get overwhelming, especially if it’s your first time with a new business. Here’s a look at some of the pitfalls that might arise, how to avoid them, and how to give yourself the gift of simple taxation down the road.

Businesses can claim a 100% deduction on restaurant meals through the end of 2022, the IRS announced.

We seem to be living in an age of natural disasters. Floods, fires, hurricanes, tornados, and other disasters often dominate the news. If a disaster strikes you, the tax law may help. You may qualify to deduct a tax code-defined disaster loss from your taxable income. The rules for personal losses are complex and far more restrictive than for business losses.

If you’ve been recently discharged from the armed forces — or are about to be discharged — you’re intimately aware that civilian life is vastly different from military life. The transition you’re facing is a major change in just about all aspects of your life and will have a dramatic impact on your finances. The choices and actions you take during this time can make things harder or set you up for success.

The stimulus bill contains a hodgepodge of eight new or extended tax breaks intended to help Form 1040 taxpayers.