Axel Pelletier

Axel Pelletier
Axel joined CRR as a staff accountant in 2023.
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Recent Posts

Key 2024 Inflation-Adjusted Tax Parameters For Small Businesses and Their Owners

The IRS recently announced several inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners.

Corporate Officers and Shareholders: How Should You Treat Expenses Paid Personally?

If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up being nondeductible both by an officer and the corporation unless the correct steps are taken. This issue is more likely to happen with a financially troubled corporation.

How to Handle Independent Contractors

Many businesses use independent contractors to help keep their costs down — especially in these times of staff shortages and inflationary pressures. If you’re among them, be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake.

Intangible Assets: What Are They, and How Can The Costs Be Capitalized?

These days, most businesses have some intangible assets. The tax treatment of these assets can be complex.