Tax Hive Blog

Enjoy these timely and informative articles that can help you make informed decisions about your business.

What is a Qualified Retirement Plan and How do I Set One Up?
What is a Qualified Retirement Plan and How do I Set One Up?
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 …
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Startup R&D Tax Credit: What is it and How Can You Claim it?
Startup R&D Tax Credit: What is it and How Can You Claim it?
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 …
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Self Employed Tax Deduction Cheat Sheet
Self Employed Tax Deduction Cheat Sheet
Use this self employed tax deduction cheat sheet to take advantage of the many business-related tax deductions. You can reduce your business …
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How To File a Business Tax Extension in 2022
How To File a Business Tax Extension in 2022
As a business owner, you need to keep track of important dates throughout the year. Few are more important than income and payroll tax filin …
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What is the Main Street Small Business Tax Credit?
What is the Main Street Small Business Tax Credit?
Economists have not yet accurately measured the damage of the COVID pandemic to the U.S. economy, especially to small local business. In 202 …
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How Does Tax Planning Minimize Small Business Taxes?
How Does Tax Planning Minimize Small Business Taxes?
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 succe …
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Biden’s Tax Plan for Small Business
Biden’s Tax Plan for Small Business
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. …
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Fringe Benefit Overview from the IRS
Fringe Benefit Overview from the IRS
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 …
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IRS Calculation for Fringe Benefit Valuation Rules
IRS Calculation for Fringe Benefit Valuation Rules
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 …
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