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The tax rules for deducting the computer software costs of your business

04 January 2021
The tax rules for deducting the computer software costs of your business

The tax rules for treating computer software costs can be complex. Here’s a basic explanation.


Steer clear of the wash sale rule if you’re selling stock by year end

30 December 2020
Steer clear of the wash sale rule if you’re selling stock by year end

If you’re fortunate to have cashed in some investment gains in 2020, you may be looking for unrealized losses in your portfolio to offset your gains. Selling losing stock may reduce your 2020 tax liability. But be aware of the “wash sale” rule.


Health Savings Accounts for your small business

29 December 2020
Health Savings Accounts for your small business

Health Savings Accounts offer a way to set aside money on a pre-tax basis to pay for qualified medical expenses. Here’s a review at what an HSA could mean for your business, as well as the relevant inflation-adjusted amounts for 2020 and 2021.


The QBI deduction basics and a year-end tax tip that might help you qualify

28 December 2020
The QBI deduction basics and a year-end tax tip that might help you qualify

Some taxpayers may be able to achieve significant savings with the QBI deduction by taking certain steps at year end.


Small businesses: Cash in on depreciation tax savers

23 December 2020
Small businesses: Cash in on depreciation tax savers

Before Dec. 31, your business should buy any needed business assets and place them in service. That way, you can take advantage of the Section 179 deduction and bonus depreciation.