If you’re starting to worry about your 2021 tax bill, there’s good news — you may still have time to reduce your liability. Here are three quick...
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Small businesses: There still may be time to cut your 2021 taxes
Don’t let the holiday rush keep you from considering some important steps to reduce your 2021 tax liability. You still have time to execute a few...
New digital asset reporting requirements will be imposed in coming years
The Infrastructure Investment and Jobs Act (IIJA) was signed into law on November 15, 2021. It includes new information reporting requirements that...
Infrastructure law sunsets Employee Retention Credit early
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has retroactively...
Businesses can show appreciation — and gain tax breaks — with holiday gifts and parties
At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties again...
Remember to use up your flexible spending account money
Do you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses? As the end of 2021...
Many factors are involved when choosing a business entity
Are you planning to launch a business or thinking about changing your business entity? If so, you need to determine which entity will work best for...
Feeling generous at year end? Strategies for donating to charity or gifting to loved ones
As we approach the holidays, many people plan to donate to their favorite charities or give money or assets to their loved ones. Here are the basic...
Would you like to establish a Health Savings Account for your small business?
With the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an...
Thinking about participating in your employer’s 401(k) plan? Here’s how it works
Employers offer 401(k) plans for many reasons, including to attract and retain talent. These plans help an employee accumulate a retirement nest egg...
Employers: The Social Security wage base is increasing in 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up...
You may owe “nanny tax” even if you don’t have a nanny
Have you heard of the “nanny tax?” Even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or other household...
Get your piece of the depreciation pie now with a cost segregation study
If your business is depreciating over a 30-year period the entire cost of constructing the building that houses your operation, you should consider...
Vacation home: How is your tax bill affected if you rent it out?
If you’re fortunate enough to own a vacation home, you may want to rent it out for part of the year. What are the tax consequences? The tax...
New per diem business travel rates became effective on October 1
Are employees at your business traveling again after months of virtual meetings? In Notice 2021-52, the IRS announced the fiscal 2022 “per diem”...