Taxes

The Tax Implications if Your Business Engages in Environmental Cleanup If your company needs to “remediate” or clean up environmental contamination, the expenses involved can be environmental cleaning tax as ordinary and necessary business expenses.These expenses may include the actual cleanup costs, in addition to expenses for environmental studies, surveys and investigations, fees for consulting and environmental engineering, legal and professional fees, environmental “audit” and monitoring costs, and other expenses. … Read more

COMPANY CAR TAX BENEFITS The use of company cars has long been a great fringe benefit for owners and employees of small businesses, and it has gotten even better with the recent tax law changes and updated IRS rules. Not only will the employer receive tax deductions, the owners and employees driving the vehicles will also receive tax breaks. The basics If you’re the owner or employee of a business … Read more