There still may be time to make an IRA contribution for last year

Tuesday, March 21, 2023
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re...... Read More

Many tax limits affecting businesses increased for 2023

Monday, March 20, 2023
An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be...... Read More

Potential tax legislation in the new Congress 2023

Tuesday, March 14, 2023
The 2022 mid-term election has shifted the scales in Washington, D.C., with the Democrats no longer controlling both houses of Congress. While it remains to be seen if — and...... Read More

How must the costs incurred for intangible assets be capitalized?

Monday, March 13, 2023
These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to:...... Read More

Do you hire domestic workers?

Tuesday, March 07, 2023
You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household employee (who...... Read More

How the new SECURE 2.0 law may affect your business

Monday, March 06, 2023
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 Community Up for Retirement...... Read More

Eligible tax breaks for adopting a child

Tuesday, February 28, 2023
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against their federal tax for up...... Read More

Employers can provide fringe benefits to employees with no tax strings attached

Monday, February 27, 2023
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these...... Read More

How are savings bonds taxed?

Tuesday, February 21, 2023
Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how...... Read More

2023 HSAs limits

Monday, February 20, 2023
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored...... Read More