Tax Breaks for Businesses Hiring New Employees

Brian SingletonBlog, Watch Your Wallet

If you’re thinking about hiring new employees this this year you won’t want to miss out on tax breaks available to businesses with employees. 1. Payroll Tax Deduction for Startups As part of the Research & Development Tax Credit, for tax years 2016 and beyond, startup businesses (C-corps and S-corps) with little to no revenue that qualify for the research and development tax credit can apply the credit against employer-paid Social Security taxes instead of income tax owed. Sole proprietorships, … Read More

2015 Year-End Business Tax Planning

Brian SingletonBlog, Watch Your Wallet

Business tax planning gets more important as the sun begins to set on 2015. While the fate of several business-related tax extenders that expired at the end of 2014 is uncertain, there are still year-end business tax planning strategies to reduce the tax burden for 2015.