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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, such as a retirement plan.If this is the case for your small business, don’t give up on the idea of helping your employees save for
WHEN CAN SENIORS DEDUCT MEDICARE PREMIUMS ON THEIR TAX RETURNS?
If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you
THE IRS HAS JUST ANNOUNCED 2024 AMOUNTS FOR HEALTH SAVINGS ACCOUNTS
The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA FUNDAMENTALS An HSA is a trust created or organized
IN FINANCIAL PLANNING, FORECASTS AND PROJECTIONS AREN’T THE SAME
Businesses are rightly encouraged to regularly generate professionally prepared financial statements. Doing so is important for both understanding your own financial position and providing accurate,
BENEFITS OF A LIVING TRUST FOR YOUR ESTATE
You may think you don’t need to make any estate planning moves because of the generous federal estate tax exemption of $12.92 million for 2023
WHY BUSINESSES MAY WANT TO CONSIDER ESG IN STRATEGIC PLANNING
When engaging in strategic planning, business owners and their leadership teams must consider various factors. These commonly include the state of your industry, the national
BEING A GIG WORKER COMES WITH TAX CONSEQUENCES
In recent years, many workers have become engaged in the “gig” economy. You may think of gig workers as those who deliver take-out restaurant meals,
4 TAX CHALLENGES YOU MAY ENCOUNTER IF YOU’RE RETIRING SOON
Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s
BUSINESSES, BE PREPARED TO CHAMPION THE ADVANTAGES OF AN HSA
With concerns about inflation in the news for months now, most business owners are keeping a close eye on costs. Although it can be difficult
4 WAYS CORPORATE BUSINESS OWNERS CAN HELP ENSURE THEIR COMPENSATION IS “REASONABLE”
If you’re the owner of an incorporated business, you know there’s a tax advantage to taking money out of a C corporation as compensation rather