tax
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…
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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…
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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…
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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…
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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…
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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…
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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…
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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…
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When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes. Here are…
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Matching Roth contributions: potential pitfalls The SECURE 2.0 Act added an option for employees who receive matching contributions from their employers to their 401(k) plans or other qualified plans. If…
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