Don’t overlook taxes when contemplating a move to another state

When you retire, you may think about moving to another state — perhaps because the weather is more temperate or because you want to be…

3 types of internal benchmarking reports for businesses

As each year winds to a close, owners of established businesses can count on having plenty of at least one thing: information. That is,…

Defer a current tax bill with a like-kind exchange

If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the…

It’s possible (but not easy) to claim a medical expense tax deduction

One of your New Year’s resolutions may be to pay more attention to your health. Of course, that may cost you. Can you deduct your…

Perform an operational review to see how well your business is running

In the wide, wide world of mergers and acquisitions (M&A), most business buyers conduct thorough due diligence before closing their…

Does your business have employees who get tips? You may qualify for a tax credit

If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit…

The kiddie tax could affect your children until they’re young adults

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates…

Did your business buy the wrong software?

No one likes to make a mistake. This is especially true in business, where a wrong decision can cost money, time and resources. According…

Answers to your tax season questions

Answers to your tax season questions The IRS announced it will open the 2024 income tax return filing season on January 29. That’s when the…

Tax-favored Qualified Small Business Corporation status could help you thrive

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible…

Account-based marketing can help companies rejoice in ROI

When it comes to marketing, business owners and their leadership teams often assume that they should “cast a wide net.” But should you? If…

Should your business offer the new emergency savings accounts to employees?

As part of the SECURE 2.0 law, there’s a new benefit option for employees facing emergencies. It’s called a pension-linked emergency…

IRAs: Build a tax-favored retirement nest egg

Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law, which…

Facing a future emergency? Two new tax provisions may soon provide relief

Perhaps you’ve been in this situation before: You have a financial emergency and need to get your hands on some cash. You consider taking…

What businesses can expect from a DOL benefits plan audit

All but the smallest businesses today are generally expected to offer employees “big picture” benefits such as health insurance and a…

New per diem business travel rates kicked in on October 1

Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that…

Contributing to your employer’s 401(k) plan: How it works

If you’re fortunate to have an employer that offers a 401(k) plan, and you don’t contribute to it, you may wonder if you should…

Businesses: Know who your privileged users are … and aren’t

Given the pervasiveness of technology in the business world today, most companies are sitting on treasure troves of sensitive data that…

Choosing a business entity: Which way to go?

If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you.…

What you need to know about restricted stock awards and taxes

Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead…

Is your business subject to the new BOI reporting rules?

The Corporate Transparency Act (CTA) was signed into law to fight crimes commonly associated with illegal business activities such as…

A cost segregation study may cut taxes and boost cash flow

Is your business depreciating over 30 years the entire cost of constructing the building that houses your enterprise? If so, you should…

11 Exceptions to the 10% penalty tax on early IRA withdrawals

If you’re facing a serious cash shortfall, one possible solution is to take an early withdrawal from your traditional IRA. That means one…

Key 2024 inflation-adjusted tax parameters for small businesses and their owners

The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to…