Do you provide free parking for your employees? Thanks to a change made by the Tax Cuts and Jobs Act (TCJA), this may no longer be tax free. Essentially, the TCJA amended Section 274(a)(4) to provide that expenses paid or incurred by employers to provide employee parking are (generally) no longer deductible by for-profit companies.
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NOTE: This article predates the tax law changes that went into effect January 1, 2018. While the structures of the various entities have not changed, there have been important changes to relevant tax rates and deductions. Originally published on Jun 11, 2014. My company, ALSD, incorporates businesses and organizes LLC’s. This year Triple Hcame to me
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Here are the steps and links to forming a new (for-profit) business. We strongly advise you contact an advisor (an accountant or lawyer) to help you with the decisions and implementation. Decide on your legal structure – Corporation? LLC? Partnership? Decide on your tax structure – S Corporation? LLC taxed as a partnership? As a
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Sales tax is not fun. No kind of tax is fun, but sales tax can be particularly daunting, and it is also considered “low hanging fruit” by many state jurisdictions. Add to that the challenge of filing in multiple states if you are a working artist who participates regularly at shows around the country and
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