Have you made moves to lower your federal income tax obligation for 2023? Fortunately, there’s still time — and this year, tax planning may be simpler, because Congress isn’t expected to pass any additional tax-related legislation that will affect your 2023 or 2024 tax situation. Here are seven ideas for you to consider before year end.

Ordinary income versus capital gains is a critical tax issue that often generates disputes with the IRS and winds up in U.S. Tax Court. In one case, the sale of property was ruled to be inventory for sale in the ordinary course of business and not eligible for preferential capital gains tax rates. Here are the details.

To reach the next level of success, or simply to remain competitive, businesses sometimes need to take out a loan. Because lenders want to manage their risk, the lending process is neither quick nor easy. This article explains how business owners can strengthen their positions as borrowers by investing time and resources into professionally prepared financial statements.

Telecommuting eliminates many problems (long commutes, crowded offices), but employees working off site also creates management challenges. During the COVID-19 crisis, remote work became much more common and may employees are still working from home. Read this article for four tips on how to avoid some of the pitfalls of telecommuting and make the experience a positive one for ownership and employees alike.