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Tag Archives: employee deductions

Bonus

Can you pay bonuses in 2017 but deduct them this year?

By Legacy Protection, LLP |

You may be aware of the rule that allows businesses to deduct bonuses employees have earned during a tax year if the bonuses are paid within 2½ months after the end of that year (by March 15 for a calendar-year company). But this favorable tax treatment isn’t always available. For one thing, only accrual-basis taxpayers can take advantage… Read More »

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