Articles & Advice

If you’re self-employed and have no employees, planning for retirement is entirely up to you. The good news? There are several tax-advantaged retirement plans designed specifically for business owners like you. With 2025 contribution limits updated, now is the perfect time to evaluate your options and maximize your savings.

Another year is quickly coming to an end. This memorandum is intended to give you some ideas on saving taxes for 2024. However, it is general in...

Starting January 1, 2025, the U.S. Department of Labor (DOL) will implement new overtime rules that raise the salary threshold for employees who are...

Effective tax planning can significantly reduce your taxable income, keeping more money in your business. Here’s a list of high-impact deductions that are often missed. Each one has unique benefits, so discuss these options with your CPA to ensure they’re applied correctly. Our team is here to help with tailored tax planning – reach out today to maximize your savings.

The State and Local Tax (SALT) deduction cap, introduced under the 2017 Tax Cuts and Jobs Act, limits the amount of state taxes you can deduct on your federal return. For many pass-through business owners in the Midwest, this can result in a higher federal tax bill.

The Financial Crimes Enforcement Network (FinCEN) is tightening regulations to improve transparency in business ownership, primarily through the implementation of Beneficial Ownership Information (BOI) reporting requirements. These requirements are aimed at helping combat illicit financial activities by ensuring that accurate and current ownership information is available to law enforcement and other authorities. If you own 25% or more of a company or have significant control over it, it’s essential to understand how the new BOI reporting requirements apply to you, particularly if your business was established before January 1, 2024, or is a new venture launched in 2024.