Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts,… Read More »Is your business closing? Here are your final tax responsibilities
Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them… Read More »How savings bonds are taxed
Most experts would agree that the best way to minimize fraud at any company, including a construction business, is to take a holistic approach. As… Read More »Prevent fraud at your construction company with a holistic approach
These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your… Read More »Computer software costs: How does your business deduct them?
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these… Read More »2023 limits for businesses that have HSAs — or want to establish them
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against… Read More »Adopting a child? Bring home a tax break too
How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced… Read More »Inflation means you and your employees can save more for retirement in 2023
The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year. Are… Read More »How inflation will affect your 2022 and 2023 tax bills
Are you still using the optimal accounting method to handle your construction company’s tax deferrals? Depending on your business earnings, as well as your typical… Read More »Reviewing 10 tax accounting methods for construction companies
You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener… Read More »You may be liable for “nanny tax” for all types of domestic workers
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for… Read More »Employers: In 2023, the Social Security wage base is going up
Are you feeling generous at year end? Taxpayers can transfer substantial amounts free of gift taxes to their children or other recipients each year through… Read More »Plan now to make tax-smart year-end gifts to loved ones