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LOOKING AHEAD TO 2025 TAX LIMITS AS YOU PREPARE TO FILE YOUR 2024 RETURN
Right now, you are likely more concerned about your 2024 tax return than you are about your 2025 taxes. However, now is a good time to familiarize yourself with tax limits that are changed for 2025. Not all tax figures are adjusted annually for inflation, and some amounts only change
SCRUPULOUS RECORDS AND LEGITIMATE BUSINESS EXPENSES ARE THE KEY TO LESS PAINFUL IRS AUDITS
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should
HOW RENTING OUT A VACATION PROPERTY WILL AFFECT YOUR TAXES
Many small businesses are run as leanly as possible. This often means not offering what are considered standard fringe benefits for midsize or larger companies,
MAXIMIZE THE QBI DEDUCTION BEFORE IT’S GONE
Many small businesses are run as leanly as possible. This often means not offering what are considered standard fringe benefits for midsize or larger companies,
BEWARE OF A STEALTH TAX ON SOCIAL SECURITY BENEFITS
Some people mistakenly believe that Social Security benefits are always free from federal income tax. Unfortunately, that’s often not the case. In fact, depending on
9 TAX CONSIDERATIONS IF YOU’RE STARTING A BUSINESS AS A SOLE PROPRIETOR
When launching a small business, many entrepreneurs start out as a sole proprietor. If you’re launching a venture as a sole proprietorship, you need to
SMALL BUSINESSES CAN HELP EMPLOYEES SAVE FOR RETIREMENT, TOO
Many small businesses are run as leanly as possible. This often means not offering what are considered standard fringe benefits for midsize or larger companies,
GET READY FOR THE 2023 GIFT TAX RETURN DEADLINE
Did you make large gifts to your children, grandchildren or others last year? If so, it’s important to determine if you’re required to file a
UPDATE ON IRS EFFORTS TO COMBAT QUESTIONABLE EMPLOYEE RETENTION TAX CREDIT (ERTC) CLAIMS
Did you donate to charity last year? Acknowledgment letters from the charities you gave to may have already shown up in your mailbox. But if
FILING JOINTLY OR SEPARATELY AS A MARRIED COUPLE: WHAT’S THE DIFFERENCE?
When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates, eligibility