Prepare for the upcoming tax season by reviewing 2024 inflation adjustments, important deadlines and opportunities to minimize your tax bill.
Itemize or take the standard deduction? The 2024 rates may help you decide.
Ever heard of a cost segregation study? It’s a strategy that can yield tax benefits, but it’s not the right move for every business. Here’s how it can help accelerate depreciation deductions on the building that houses your enterprise.
Choosing the best entity for your business is a multi-faceted decision. Here’s a look at the some of the considerations.
While taxes may be the last thing on your mind during the holiday season, small steps you take now may result in big savings on your 2023 tax bill. From maximizing deductions to optimizing investment strategies, some simple yet proactive measures can help you keep your hard-earned money in your pocket. I have compiled a…
The IRS recently announced the special “per diem” rates that became effective Oct. 1, 2023. Here are the basics of these rates.
Certain business owners and some of their employees don’t have to pay Social Security tax on all their wages. Amounts above a threshold aren’t subject to Social Security tax. The “wage base” for 2024 was recently announced by the Social Security Administration.
Business owners, their leadership teams and even advisors may be held liable under the trust fund recovery penalty rules. Here’s a review of this important payroll tax issue.
IRS examiners use publications called Audit Techniques Guides to prepare for audits in certain industries and those with various issues. You can read the publications too. Here’s how.
You want to be able to deduct business expenses on your tax return. But in order to be deductible, expenses must be ordinary, necessary and reasonable. Here are the rules.