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…

Some businesses may have an easier path to financial statements

There’s no getting around the fact that accurate financial statements are imperative for every business. Publicly held companies are…

Smaller companies: Explore pooled employer plans for retirement benefits

Most businesses today need to offer a solid benefits package. Failing to do so could mean falling behind in the competition to hire and…

Key 2024 inflation-adjusted tax amounts for individuals

The IRS recently announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers. Most of the federal income…

There still may be time to reduce your small business 2023 tax bill

In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. You…

Don’t forget to empty out your flexible spending account

If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an…

A company car is a valuable perk but don’t forget about taxes

One of the most appreciated fringe benefits for owners and employees of small businesses is the use of a company car. This perk results in…

Solving the riddles of succession planning for family businesses

Every established company will encounter challenges when confronting the thorny issue of succession planning. Family-owned businesses,…

Could value-based sales boost your company’s bottom line?

If your company sells products or services to other businesses, you’re probably familiar with the challenge of growing your sales numbers.…

The tax implications of renting out a vacation home

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a…

How IRS auditors learn about your business industry

Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about…

A refresher on the trust fund recovery penalty for business owners and executives

One might assume the term “trust fund recovery penalty” has something to do with estate planning. It’s important for business owners and…