tax
Navigating business-vehicle expense deductions can be tricky If you operate a business, you can generally deduct expenses for the business-related use of your personal vehicle. There are two ways to…
Read More
For investors, a popular year-end tax planning strategy is to “harvest” investment losses. This strategy allows you to offset investment gains plus up to $3,000 in wages or other ordinary…
Read More
Tax planning should be a year-round endeavor, not a year-end afterthought. Many of the most effective tax strategies for businesses require months of preparation. Nevertheless, as the end of the…
Read More
Businesses structured as partnerships, S corporations or limited liability companies generally aren’t subject to the federal corporate income tax. This is because tax liability “passes through” such entities to each business…
Read More
As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expenses are tax deductible can significantly affect your…
Read More
If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is also an…
Read More
The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, introduced several significant provisions that have influenced various sectors, including the construction industry. As key provisions approach their expiration…
Read More
As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced that the wage base for computing Social Security tax will increase…
Read More
Does your business require real estate for its operations? Or do you hold property titled under your business’s name? It might be worth reconsidering this strategy. With long-term tax, liability…
Read More
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may…
Read More