INSIGHTS — SLATE ACCOUNTING + TECHNOLOGY

Buying or Leasing a Car for Business: What Are the Tax Benefits?

Whether you buy or lease a car for business, it’s a considerable investment. So you want to ensure you’re getting the full tax benefits in the form of deductions and write-offs that will save you money.

Business Taxes, Advisory ServicesJustin ThomsenJune 7, 2022car for business, business vehicle, tax deductions, vehicle expenses, standard mileage rate, vehicle deductions, Section 179, bonus depreciation

Is it Meals or Marketing Expense?

It used to be common practice to lump together things like taking a client to a baseball game and treating them to dinner as “meals and entertainment” expense.

Business TaxesJustin ThomsenNovember 14, 2021meals deduction, meals and entertainment expense, deductible marketing expenses, 100% meals deduction

Form 1099 Best Practices for Year-End

For many companies, January is a mad dash of closing the prior year-end, making fourth quarter estimated tax payments, and sending out W-2s and 1099 forms.

Business TaxesJustin ThomsenNovember 14, 2021tax advise, information returns, 1099s

S Corp Bonus vs. Distribution: How to Give Yourself an Extra Paycheck

It’s almost the end of the year, so business owners are looking at their financial statements for ways to increase their compensation without hurting the business or getting into tax trouble.

Advisory ServicesJustin ThomsenNovember 14, 2021S corporation, bonuses, distributions, shareholder compensation, tax advise

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