Blog

BLOG - HUGHES WEDGWOOD AND COMPANY

Tax-free fringe benefits help small businesses and their employees

In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive…
CONTINUE READING

Could a cost segregation study help you accelerate depreciation deductions?

Businesses that acquire, construct or substantially improve a building — or did so in previous years — should consider a…
CONTINUE READING

Businesses aren’t immune to tax identity theft

Tax identity theft may seem like a problem only for individual taxpayers. But, according to the IRS, increasingly businesses are…
CONTINUE READING

2018 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2018. Keep…
CONTINUE READING

Keep it SIMPLE: A tax-advantaged retirement plan solution for small businesses

If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering…
CONTINUE READING

Assessing the S corp!

The S corporation business structure offers many advantages, including limited liability for owners and no double taxation (at least at…
CONTINUE READING

Choosing the right accounting method for tax purposes

The Tax Cuts and Jobs Act (TCJA) liberalized the eligibility rules for using the cash method of accounting, making this…
CONTINUE READING

A Family Limited Partnership can save tax in a family business succession!

One of the biggest concerns for family business owners is succession planning — transferring ownership and control of the company…
CONTINUE READING

Be aware of the tax consequences before selling your home!

If you’re planning to put your home on the market soon, you’re probably thinking about things like how quickly it…
CONTINUE READING

Business deductions for meal, vehicle and travel expenses: Document, document, document

Meal, vehicle and travel expenses are common deductions for businesses. But if you don’t properly document these expenses, you could…
CONTINUE READING