tax
Various employee plan benefit and contribution limitations are subject to cost of living adjustments (COLA). The Internal Revenue Service has just released the new limits, which are effective as of…
For construction business owners, the arrival of a new year should mean two things: high hopes for a busy twelve months and tax planning. Let’s focus on the latter with…
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may…
One of the most appreciated fringe benefits for owners and employees of small businesses is the use of a company car. This perk results in tax deductions for the employer…
In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. You still have time to take…
If you own residential real estate, you may be considering renting it to family members. As rents continue to rise in many parts of the country, renting property at a…
When it comes to tax-saving strategies, sometimes the current economic and financial environment can make one strategy more effective than another. That’s certainly the case with a charitable remainder trust…
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…
As 2023 comes to a close, now is a good time for businesses to consider year-end moves that can help reduce their tax bills. Following are several ideas to consider.…
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…
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…
In December of 2019, the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) introduced a new 10-year rule for beneficiaries of retirement plans and IRA accounts, which…
In an era of growing environmental awareness and increasing energy costs, the U.S. government is incentivizing homeowners to make energy-efficient upgrades to their residences. Beginning in tax year 2023 there…
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…
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…