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THE 2024 GIFT TAX RETURN DEADLINE IS COMING UP SOON
If you made significant gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2024 gift tax return. And in some cases, even if it’s not required to file one, you may want to do so anyway. REQUIREMENTS TO FILE
EARLY BIRD TIPS: ANSWERING YOUR TAX SEASON QUESTIONS
The IRS announced it will start the 2025 filing season for individual income tax returns on January 27. That’s when the agency began accepting and
HEALTHY SAVINGS: HOW TAX-SMART HSAs CAN BENEFIT YOUR SMALL BUSINESS AND EMPLOYEES
As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a
SENIOR TAX SAVING ALERT: MAKE CHARITABLE DONATIONS FROM YOUR IRA
If you’ve reached age 70½, you can make cash donations directly from your IRA to IRS-approved charities. These qualified charitable distributions (QCDs) may help you
GET TAX BREAKS FOR ENERGY-SAVING PURCHASES THIS YEAR BECAUSE THEY MAY DISAPPEAR
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
SELF-EMPLOYMENT TAX: A REFRESHER
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
THE NANNY TAX: WHAT HOUSEHOLD EMPLOYERS NEED TO KNOW
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
THE AMOUNT YOU AND YOUR EMPLOYEES CAN SAVE FOR RETIREMENT IS GOING UP SLIGHTLY IN 2025
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
BUSINESS OWNERS: BE SURE YOU’RE PROPERLY CLASSIFYING CASH FLOWS
Properly prepared financial statements provide a wealth of information about your company. But the operative words there are “properly prepared.” Classifying information accurately isn’t always
BUSINESSES MUST STAY ON GUARD AGAINST INVOICE FRAUD
Fraud is a pernicious problem for companies of all shapes and sizes. One broad type of crime that seems to be thriving as of late