How to Close a Business: Tax and Paperwork

Closing a business is difficult and challenging. The IRS acknowledges that small businesses and self-employed individuals face challenges in their personal and business lives during these uncertain times. Closing a business is a difficult decision. Toward the end of...

Paid Sick and Family Leave: The Tax Rules

As of this writing, 15 states and Washington, D.C., require paid sick leave, while eight states and Washington, D.C., require paid family leave. Many local governments also mandate paid sick or family leave. In addition, studies show that most employers offer paid...

Hidden Tax Break: Meal Deductions Get a Boost

The recently passed relief bill, officially called the Consolidated Appropriations Act, 2021, contained a provision designed to give a boost to the restaurant industry: upgrading what had been a 50% meal deduction to 100% for “food or beverages provided by a...
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