Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will… Read More »How inflation will affect your 2024 and 2025 tax bills
You’re not alone if you’re confused about the federal tax treatment of business-related meal and entertainment expenses. The rules have changed in recent years. Let’s… Read More »When can you deduct business meals and entertainment?
The Inflation Reduction Act (IRA), enacted in 2022, created several tax credits aimed at promoting clean energy. You may want to take advantage of them… Read More »Get tax breaks for energy-saving purchases this year because they may disappear
If you own a growing, unincorporated small business, you may be concerned about high self-employment (SE) tax bills. The SE tax is how Social Security… Read More »Self-employment tax: A refresher on how it works
Employee stock options remain a potentially valuable asset for employees who receive them. For example, many Silicon Valley millionaires got rich (or semi-rich) from exercising… Read More »Unlocking the mystery of taxes on employer-issued nonqualified stock options
How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80, the IRS recently announced cost-of-living… Read More »The amount you and your employees can save for retirement is going up slightly in 2025
Hiring household help, whether you employ a nanny, housekeeper or gardener, can significantly ease the burden of childcare and daily chores. However, as a household… Read More »The nanny tax: What household employers need to know
If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k)… Read More »How can you build a golden nest egg if you’re self-employed?
As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced that the wage base for computing… Read More »Employers: In 2025, the Social Security wage base is going up
The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. By 2026, it plans to nearly triple its audit rates… Read More »How your business can prepare for and respond to an IRS audit
Does your business require real estate for its operations? Or do you hold property titled under your business’s name? It might be worth reconsidering this… Read More »Advantages of keeping your business separate from its real estate
Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One… Read More »Understanding your obligations: Does your business need to report employee health coverage?