tax

If you’re planning improvements that will boost your home’s energy efficiency, be sure to consider tax incentives that may offset some of the cost. The Inflation Reduction Act (IRA), signed…

During the COVID-19 pandemic, business travel nearly came to a halt. Today, it’s on the rebound, as “Zoom-fatigued” executives craving face-to-face interaction hit the road again. With more people getting…

The qualified business income (QBI) deduction is available to eligible businesses through 2025. After that, it’s scheduled to disappear. So if you’re eligible, you want to make the most of…

If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a dividend distribution…

Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes. The cash method…

When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand the tax issues involved. Here…

IRS delays Roth catch-up requirement for two years If you’re 50 or older, you can make an additional $7,500 in “catch-up” contributions to 401(k) and similar plans. However, under SECURE…

Are you seeking options for helping your minor-aged child save for college or other expenses in a tax-efficient manner? A custodial account may be the answer. In a nutshell, it’s…