The tax rules for donating artwork to charity

If you’re an art collector, you may wonder about the tax breaks available for donating a work of art to charity. Several different tax…

It’s happening: Using social media for customer service

Everyone is on social media these days, including businesses and their customers. This creates a natural — or shall we say virtual — nexus…

Paperwork you can toss after filing your tax return

Once you file your 2022 tax return, you may wonder what personal tax papers you can throw away and how long you should retain certain…

Retirement saving options for your small business: Keep it simple

If you’re thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment…

5 valuation terms that every business owner should know

As a business owner, you’ll likely need to have your company appraised at some point. An appraisal is essential in the event of a business…

Renting to a relative? Watch out for tax traps

If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules…

Look forward to next year by revisiting your business plan

Businesses of all stripes are about to embark upon a new calendar year. Whether you’ve done a lot of strategic planning or just a little, a…

The standard business mileage rate is going up in 2023

Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the…

SECURE 2.0 law may make you more secure in retirement

A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few…

Unused PTO a problem? Consider a contribution arrangement

A new year has arrived. For many businesses, this means employees’ paid time off (PTO) arrangements have reset. And at companies with “use…

Employers should be wary of ERC claims that are too good to be true

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the…

Tax-wise ways to save for college

If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several…

3 ways your business can uncover cost cuts

Every business wants to find them, but they sure don’t make it easy. We’re talking about cost cuts: clear and substantial ways to lower…

Forms W-2 and 1099-NEC are due to be filed soon

With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers…

Why you might want to file early and answers to other tax season questions

The IRS announced it opened the 2023 individual income tax return filing season on January 23. That’s when the agency began accepting and…

Getting into data analytics without breaking the bank

Most business owners would probably agree that, in today’s world, data rules. But finding, organizing and deriving meaning from the…

Is now the time for your small business to launch a retirement plan?

Many small businesses start out as “lean enterprises,” with costs kept to a minimum to lower risks and maximize cash flow. But there comes…

Tax-saving ways to help pay for college — once your child starts attending

If you have a child or grandchild in college — congratulations! To help pay for the expenses, many parents and grandparents saved for years…

How the new SECURE 2.0 law may affect your business

If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every…

Answers to your questions about taking withdrawals from IRAs

As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA…

Does your family business’s succession plan include estate planning strategies?

Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the…

Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred…

Selling stock by year-end? Watch out for the wash sale rule

If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for…

Timing is everything when it comes to accounting software upgrades

“Well, it still works, and everyone knows how to use it, but….” Do these words sound familiar? Many businesses stick with their accounting…