If you recently launched a business, you may want to set up a tax-favored retirement plan for yourself and your employees. There are several types… Read More »New business? It’s a good time to start a retirement plan
If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing. The Social Security Administration recently… Read More »The 2021 “Social Security wage base” is increasing
When a couple is going through a divorce, taxes are probably not foremost in their minds. But without proper planning and advice, some people find… Read More »Divorcing couples should understand these 4 tax issues
As year-end draws near, many businesses will be not only be generating their fourth quarter financial statements, but also looking back on the entire year’s… Read More »Inventory management is especially important this year
Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in? If the ventures are passive… Read More »Understanding the passive activity loss rules
If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise sales You may already have made… Read More »Buying and selling mutual fund shares: Avoid these tax pitfalls
It’s been a year like no other. The sudden impact of the COVID-19 pandemic in March forced every business owner — ready or not —… Read More »Reviewing your disaster plan in a tumultuous year
IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined.… Read More »The easiest way to survive an IRS audit is to get ready in advance
October 15 is the deadline for individual taxpayers who extended their 2019 tax returns. (The original April 15 filing deadline was extended this year to… Read More »What tax records can you throw away?
Most salespeople would tell you that there are few better feelings in life than closing a deal. This is because guiding a customer through the… Read More »4 steps to improving your company’s sales
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale… Read More »The tax rules for deducting the computer software costs of your business
If you file a joint tax return with your spouse, you should be aware of your individual liability. And if you’re getting divorced, you should… Read More »There may be relief from tax liability for “innocent spouses”