tax
A bill in Congress — dubbed The One, Big, Beautiful Bill — could significantly reshape several federal business tax breaks. While the proposed legislation is still under debate, it’s already…
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If you or your employees are heading out of town for business this summer, it’s important to understand what travel expenses can be deducted under current tax law. To qualify,…
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Need employees? This tax credit may help The unemployment rate was 4% in January 2025. The WOTC is available to employers that hire workers from targeted groups who face significant…
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It should surprise no one that we all need an estate plan. A well-crafted plan helps ensure, among other things, that your family will be taken care of per your…
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Most long-time construction business owners reach a point when they start thinking about not only their own retirements but also their families’ financial security. Whether you’re at that point or…
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If you operate a business or are starting a new one, you must keep records of your income and expenses. Specifically, you should carefully record your expenses to claim all…
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Tax returns are due but once a year. However, paying taxes — through withholding from your wages, estimated tax payments, or both — is a year-round activity. That’s why reviewing…
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Under the Internal Revenue Code, “qualified sponsorship payments” to not-for-profits aren’t subject to unrelated business income tax (UBIT). Qualified payments refer to money, property transfers or the performance of services…
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Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships, and even legal consequences. Below are six quick tips to help…
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Determining “reasonable compensation” is a critical issue for owners of C corporations and S corporations. If the IRS believes an owner’s compensation is unreasonably high or low, it may disallow certain deductions…
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