Small Business

Your Weekly Read

Material participation key to deducting LLC and LLP losses

If your business is a limited liability company (LLC) or a limited liability partnership (LLP), you know that these structures offer liability protection and flexibility as well as tax advantages. But they once also had a significant tax disadvantage: The IRS used to...

An ESOP offers small businesses tax and other benefits

An ESOP offers small businesses tax and other benefits

With an employee stock ownership plan (ESOP), employee participants take part ownership of the business through a retirement savings arrangement. Meanwhile, the business and its existing owners can benefit from some potential tax breaks, an extra-motivated workforce...

Keep your real estate out of your business to save tax

Keep your real estate out of your business to save tax

It’s common for a business to own not only typical business assets, such as equipment, inventory, and furnishings, but also the building where the business operates — and possibly other real estate as well. There can, however, be negative consequences when a...

Small business owners can succeed while doing good

Small business owners can succeed while doing good

The federal Small Business Administration reports that about 75% of small business owners donate some portion of their profits to charity each year. The average contribution is around 6% of earnings. Fulfilling philanthropic intentions has emotional rewards. And there...

Loaning money to your small business? The details matter

Loaning money to your small business? The details matter

It’s common for closely held businesses to transfer money into and out of the company, often in the form of a loan. However, the IRS looks closely at such transactions. Are they truly loans, or actually compensation, distributions or contributions to equity? Loans to...

Choosing the best way to reimburse employee travel

Choosing the best way to reimburse employee travel

If your employees incur work-related travel expenses, small businesses can tax-efficiently reimburse employee travel costs by using the right method. But to secure tax-advantaged treatment for your business and your employees, it’s critical to comply with IRS rules....

Solo 401(k) plans for companies without employees

Solo 401(k) plans for companies without employees

Among major corporations, 401(k) plans have become common. But even the smallest of businesses can have a 401(k) plan for retirement. One-participant 401(k) plans, known by names such as Solo 401(k) and Uni-k, are available. For some small business owners and...

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144 W 2nd St
Washington, NC 27889

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252-946-8052
Email:
info@seilersingleton.com

 

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