Update on Employee Retention Tax Credit claims

Monday, February 26, 2024
The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling businesses to retain employees. Even though the...... Read More

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

Monday, February 19, 2024
The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners.Rates and bracketsIf you...... Read More

A cost segregation study may cut taxes and boost cash flow

Monday, February 12, 2024
Is your business depreciating over 30 years the entire cost of constructing the building that houses your enterprise? If so, you should consider a cost segregation study. It may allow...... Read More

Choosing a business entity: Which way to go?

Monday, February 05, 2024
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. Should you operate as a C...... Read More

What types of expenses can’t be written off by your business?

Monday, January 29, 2024
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax...... Read More

The Social Security wage base for employees and self-employed people is increasing in 2024

Monday, January 22, 2024
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income...... Read More

Business automobiles: How the tax depreciation rules work

Monday, January 15, 2024
Do you use an automobile in your trade or business? If so, you may question how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply...... Read More

How IRS auditors learn about your business industry

Monday, January 08, 2024
Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns by using IRS...... Read More

New per diem business travel rates kicked in on October 1

Monday, January 01, 2024
Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into reviewing business travel expenses. There may be...... Read More

It’s important to understand how taxes factor into M&A transactions

Monday, December 25, 2023
In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how the...... Read More