Emil Estafanous, CPA

The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners. Rates and brackets… Read More »Emil @ CPA Manufacturing: Key 2024 inflation-adjusted tax parameters for small businesses and their owners

Is your business depreciating over 30 years the entire cost of constructing the building that houses your enterprise? If so, you should consider a cost segregation study. It may allow… Read More »Emil @ CPA Manufacturing Explain: A cost segregation study may cut taxes and boost cash flow

If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you operate as a C corporation… Read More »CPA Manufacturing – Choosing a business entity: Which way to go?

Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into reviewing business travel expenses. There may be… Read More »Emil @ CPA Manufacturing tips: New per diem business travel rates kicked in on October 1

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income… Read More »Emil @ CPA Manufacturing wrote: The Social Security wage base for employees and self-employed people is increasing in 2024

Do you use an automobile in your trade or business? If so, you may question how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply… Read More »Business automobiles: How the tax depreciation rules work

Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns by using IRS… Read More »Emil @ CPA Manufacturing explain How IRS auditors learn about your business industry

If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax… Read More »Emil @ CPA Manufacturing: What types of expenses can’t be written off by your business?

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may… Read More »2023 Q4 tax calendar: Key deadlines for businesses and other employers

In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how the… Read More »Emil @ CPA Manufacturing Wrote: It’s important to understand how taxes factor into M&A transactions

Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is… Read More »Emil @ CPA Manufacturing tips: Spouse-run businesses face special tax issues