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Valuable Business Articles & Updates

Small Business Taxes (2)

5 Ideas to Help Small Business Owners Reduce Taxes for 2023

6 min read

5 Ideas to Help Small Business Owners Reduce Taxes for 2023

As year-end approaches, small business owners should review their tax situations to determine ways to lower federal income taxes for the current tax...

Federal Tax News for Individuals

2 min read

Federal Tax News for Individuals

Tax season is long over, but tax scams are thriving. The IRS is warning taxpayers about emails and text messages that promise refunds and credits but...

Update on New Retirement Account Catch-Up Contribution Rules

3 min read

Update on New Retirement Account Catch-Up Contribution Rules

The Setting Every Community Up for Retirement Enhancement (SECURE) Act brought numerous changes to the retirement and estate planning landscape in...

Will Your Crypto Transactions Be Reported on a Form 1099?

3 min read

Will Your Crypto Transactions Be Reported on a Form 1099?

Some taxpayers may be unaware of all the federal tax reporting requirements for cryptocurrency transactions — especially when it comes to issuing and...

Protect Your Company Retirement Plan from an IRS Attack

1 min read

Protect Your Company Retirement Plan from an IRS Attack

When your company sponsors a qualified retirement plan, you must comply with complex rules established by the IRS and the Department of Labor. Ignore...

RISK MANAGEMENT 8 WAYS TO REDUCE BUSINESS INSURANCE COSTS

3 min read

Risk Management: 8 Ways to Reduce Business Insurance Costs

How much money is your business spending on insurance products? Insurance is often a major business expense, and it can be a lifesaver when the...

MIDYEAR TAX PLANNING FOR SMALL BUSINESSES AND OWNERS

4 min read

Midyear Tax Planning for Small Businesses and Owners

Summer isn't just for barbeques and baseball. It's also a good time to think about ways to cut your 2023 business tax bill. Here are four planning...

Federal Tax News For Businesses

2 min read

Federal Tax News For Businesses

What Certain IRS Notices Mean What does it mean if a business receives a Notice CP2100 or CP2100A from the IRS? These notices tell recipients that...

Cutting the Kiddie Tax Down to Size

3 min read

Cutting the Kiddie Tax Down to Size

Despite its name, the "kiddie tax" is anything but child's play. If you're not careful, this provision of the tax code can result in children having...

Deposit Interest into Five Tax Buckets

4 min read

Deposit Interest into Five Tax Buckets

Interest rates rise and fall periodically, but the tax rules for deducting interest expenses remain the same — unless Congress changes them....

2023 Q3 tax calendar: Key deadlines for businesses and other employers

1 min read

2023 Q3 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. Keep in mind that this list...

Federal Tax News For Individuals

2 min read

Federal Tax News For Individuals

What to do if you missed the tax day deadline Did you miss the 2022 tax filing deadline? For most taxpayers, that was April 18, 2023. Taxpayers who...

Sell Corporate Stock Tax-Free to an ESOP

2 min read

Sell Corporate Stock Tax-Free to an ESOP

When family business owners sell C corporation stock for a big profit, they usually qualify for the current 20% maximum federal rate on long-term...

Federal Tax News for Businesses

2 min read

Federal Tax News for Businesses

Businesses Targeted for Identity Theft The IRS is warning businesses that they may be prime targets for identity theft. How do you know if your...

Resist the Urge to Purge after Filing Your 2022 Tax Return

3 min read

Resist the Urge to Purge after Filing Your 2022 Tax Return

The statute of limitations for the IRS to audit your tax return is typically three years. It begins on the latter of: The due date for your tax...

Many factors are involved when choosing a business entity

2 min read

Many factors are involved when choosing a business entity

Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for...

Lowdown on Federal Tax Proposals for Individuals and Businesses

5 min read

Lowdown on Federal Tax Proposals for Individuals and Businesses

The U.S. Department of Treasury released its “Green Book” in May entitled, “General Explanation of the Biden administration’s Fiscal Year 2022...

2021 Q4 tax calendar: Key deadlines for businesses and other employers

1 min read

2021 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2021. Keep in mind that this...

Boost Profits with These 10 Techniques

2 min read

Boost Profits with These 10 Techniques

They say little things mean a lot. And relatively small expenses can add up to a huge amount of money your company could be wasting.

How Start-Up Expenses are Handled on Your Tax Return

2 min read

How Start-Up Expenses are Handled on Your Tax Return

Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. From June 2020...

Don’t Assume Your Profitable Company has Strong Cash Flow

2 min read

Don’t Assume Your Profitable Company has Strong Cash Flow

Most of us are taught from a young age never to assume anything. Why? Well, because when you assume, you make an … you probably know how the rest of...

self employed female working

3 min read

7 Valuable Deductions for Self-Employed Individuals

If your business was forced to close due to the pandemic, you may be itching to get back in the game. Or maybe you’re looking to fulfill a lifelong...

Labor Shortage: Evaluating Your Employment Value Proposition

3 min read

Labor Shortage: Evaluating Your Employment Value Proposition

In normal market conditions, people who’ve been unemployed due to an economic slump are generally eager to take a job when the economy perks up. But...

The IRS has Announced 2022 Amounts for Health Savings Accounts

2 min read

The IRS has Announced 2022 Amounts for Health Savings Accounts

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs).

The Restaurant Revitalization Fund is Now Live

2 min read

The Restaurant Revitalization Fund is Now Live

The COVID-19 pandemic has affected various industries in very different ways. Widespread lockdowns and discouraged movement have led to increased...

New Restaurant Revitalization Funding Program (RRF)

2 min read

New Restaurant Revitalization Funding Program (RRF)

The Small Business Administration (SBA) is preparing to launch the Restaurant Revitalization Funding Program (RRF). In order to help you apply, we...

Ins & Outs of “Reasonable Compensation” for a Corporate Business Owner

2 min read

Ins & Outs of “Reasonable Compensation” for a Corporate Business Owner

Owners of incorporated businesses know there’s a tax advantage to taking money from a C corporation as compensation rather than as dividends. The...

PPP Adjusted to Prioritize Very Small Businesses

2 min read

PPP Adjusted to Prioritize Very Small Businesses

When the Small Business Administration (SBA) launched the Paycheck Protection Program (PPP) last year, the program’s stated objective was “to provide...

Launching a Small Business? Here are Some Tax Considerations

2 min read

Launching a Small Business? Here are Some Tax Considerations

While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these...

PPP Application Deadline Extended in New Law

1 min read

PPP Application Deadline Extended in New Law

On March 30, 2021, President Biden signed legislation to extend the application period of the popular Paycheck Protection Program (PPP) through May...