Do you play a major role in a closely held corporation and sometimes spend money on corporate expenses personally? These costs may wind up being nondeductible both by an officer and the corporation unless proper steps are taken. This issue…
Tax Brief: Handling Your Start-Up Expenses on Your Tax Return
Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020 through June 2021, the U.S. Census Bureau reports that business applications are up 18.6%. The Bureau measures this…
Tax Brief: 10 Facts about a Valuable Tax Deduction
Are you eligible to take the deduction for qualified business income (QBI)? Here are 10 facts about this valuable tax break, referred to as the pass-through deduction, QBI deduction or Section 199A deduction. It’s available to owners of sole proprietorships,…
Beware of NFA Phishing Emails
Recently, the NFA had fallen victim to a phishing campaign involving fraudulent emails from members of NFA staff. These emails have a source domain name of “@nfa-futures.com” and some have included an attachment. This domain name has no connection to…