Welcome to our ‘Tax Strategy for Small Business’ section, where we offer a wealth of knowledge and insights on various aspects of business taxation. Our team of experienced CPAs and financial experts regularly share articles to help you navigate the complex world of business taxes. Whether you’re seeking tips for deductions, updates on tax regulations, or strategies for tax optimization, you’ll find valuable information here. Stay informed and make informed tax decisions with Bearden, Stroup & Associates, CPAs.
Most people know you can roll a 401(k) into an IRA when you leave a job. Almost nobody knows it can work the other way. In the right situation, rolling money into your 401(k) is exactly what makes a backdoor Roth strategy actually work. If your income is too high to contribute directly to a […]
Can You Roll an IRA Into Your 401(k)? Here’s Why It Matters for a Backdoor Roth Read More »
Most people think their 401(k) contribution has a hard ceiling. Hit the annual limit, and you’re done saving for the year. For a growing number of employees, that assumption is wrong, and not knowing it is expensive. Here’s what most employees don’t realize: a 401(k) can hold three different types of employee contributions, not just
The Mega Backdoor Roth: How Some 401k Plans Let You Save Far More Than the Annual Limit Read More »
You want to help your daughter with a down payment, or hand a grandkid something real for graduation, and somebody warned you the gift tax is going to take a cut. It won’t. For almost everyone, going over the $19,000 annual gift limit costs exactly nothing in tax. The worst case is an extra form
Married Couples: How to Give More Than $19,000 Without Filing a Gift Tax Return Read More »
Trump Accounts are a new child-savings vehicle with the potential to become a powerful long-term business tax planning tool. Parents, employers, and advisors are already asking the key question: what is the best way to get money into the account? The answer may not be a direct contribution. And it may not even be a
The Smartest Way to Fund a Trump Account May Be Through Your Employer’s Cafeteria Plan Read More »
You bought a piece of equipment online, the seller didn’t charge sales tax, and you figured you caught a break. You didn’t. You may still owe the tax. It’s called use tax, and it’s one of the most common reasons an Alabama small business gets hit with a surprise bill during an audit. Strong clean, audit-ready bookkeeping helps keep this information
Why Your City Wants to See Your Equipment Receipts Read More »
The catered lunch you buy your crew on a long install day has earned you a tax deduction for years. Starting in 2026, that same lunch may be worth nothing on your return. A tax change is coming that affects how businesses deduct meals, snacks, and food provided to employees. Some expenses that were 50%
Your Crew’s Lunch Just Lost Its Tax Deduction Read More »
A lot of small business owners assume that if they’re already paying rent on an outside space, the home office deduction is off the table. That assumption is costing them money. This is exactly the kind of issue to review as part of business tax planning services. The IRS doesn’t limit you to one place of business. What they care about
Your Rented Space Doesn’t Kill Your Home Office Deduction Read More »
Many business owners are surprised to learn that a basic SUV, sedan, or crossover can run into the same depreciation limits as a luxury car. This is exactly the kind of issue to review as part of tax planning for business vehicle purchases. Even though “luxury auto depreciation limits,” sounds like it would apply only to high-end cars like
The Luxury Auto Tax Trap for Regular Business Vehicles Read More »
If you are an S corporation owner, this question matters more than most people realize. Reasonable compensation is the amount a business owner-employee should be paid for the work they actually perform. In plain English, it is what you would have to pay someone else to do your job under similar facts and circumstances. This is
What Is Reasonable Compensation? Read More »
Real estate activities fall into several different tax categories. It could be classified as a business or an investment, and that difference can change your tax bill. This is exactly the kind of issue to review as part of tax planning for business and investment activity. Rental Properties Rental real estate is sometimes treated like a business
Real Estate: Business or Investment? Read More »
