Tax Hive Blog

What is a Qualified Retirement Plan (QRP)? The IRS defines a QRP as one that “satisfies the Internal Revenue Code in both form and operation.” The tricky part is READ ARTICLE

What is the Startup R&D Tax Credit?

Many new business owners overlook the Startup R&D Tax Credit to reduce small business taxes. This could be due to READ ARTICLE

Use this self-employed tax deduction cheat sheet to take advantage of the many business-related tax deductions. You can reduce your business income by a chunk before you check the READ ARTICLE

As a business owner, you need to keep track of important dates throughout the year. Few are more important than income and payroll tax filings and quarterly estimated payments. READ ARTICLE

The damage of the COVID pandemic to the U.S. economy, especially to small local business, has yet to be accurately measured. In 2020 and 2021, every sector of American READ ARTICLE

Small business is the foundation of the U.S. economy, and the typical small business owner works long hours with few days off to reach success. Success for a business READ ARTICLE

The slow progress of the Build Back Better Act in Congress has not slowed the Biden Administration’s plans to enact changes in the tax code. There are ongoing plans READ ARTICLE

The IRS considers fringe benefits to be a form of pay (not money) for the performance of services. An example could be allowing an employee to use a company READ ARTICLE

The list of fringe benefits the IRS will allow you to exclude their value from employee compensation is a long one. However, there are many cases where a fringe READ ARTICLE