If you’ve recently begun receiving disability income, you may wonder how it’s taxed. The answer is: It depends. The key issue is: Who paid for the benefit? If the income is paid directly to youRead More »How disability income benefits are taxed
Like many businesses, yours has probably jumped aboard the cloud computing bandwagon … or “skywagon” as the case may be. How’s that going? Some business owners pay little to no attention to a cloud providerRead More »Is your cloud provider still meeting your company’s needs?
Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that applyRead More »2022 Q3 tax calendar: Key deadlines for businesses and other employers
It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also can deduct them in certain circumstances. Unfortunately, under current law, you may not be able to deduct as much asRead More »Vehicle expenses: Can individual taxpayers deduct them?
Is your business hiring? Many companies are — in fact, an employment report released by the U.S. Department of Labor earlier this month revealed that nonfarm payrolls increased by 390,000 in May, and the unemploymentRead More »When hiring, don’t overlook older workers
Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas on June 17 was $5,Read More »Businesses will soon be able to deduct more under the standard mileage rate
Are you in the early stages of divorce? In addition to the tough personal issues that you’re dealing with, several tax concerns need to be addressed to ensure that taxes are kept to a minimumRead More »Five tax implications of divorce
Accounts payable is a critical area of concern for every business. However, as a back-office function, it doesn’t always get the attention it deserves. Once in place, accounts payable processes tend to get taken forRead More »Checking in on your accounts payable processes
There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends received by a corporation. AsRead More »Is your corporation eligible for the dividends-received deduction?
As a result of the current estate tax exemption amount ($12.06 million in 2022), many people no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estateRead More »Your estate plan: Don’t forget about income tax planning
Every business wants to engage in strategic planning that will better position the company to sell more to current customers — and perhaps expand into new markets. Yet the term “strategic planning” is so broad.Read More »Simple ways to make strategic planning a reality
Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply all or some of any research tax creditsRead More »Help when needed: Apply the research credit against payroll taxes