For many businesses, technology has changed from something they use to something they do. When a company reaches a point where IT plays a central role in operations and productivity, ownership might want to createRead More »3 specialized IT leadership positions for growing businesses
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation.Read More »How will revised tax limits affect your 2022 taxes?
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you payRead More »Businesses with employees who receive tips may be eligible for a tax credit
You may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but not easy. Medical expenses can be claimed as a deduction onlyRead More »Are you eligible for a medical expense tax deduction?
They say we live in an on-demand world. Right now, many business owners are demanding one thing: more workers. Unfortunately, the labor market is somewhat less than forthcoming. In the so-called “Great Resignation” of 2021,Read More »Business owners, do you need to step up your internal communications game?
Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a Section 1031 “like-kind” exchange where you exchange theRead More »Defer tax with a like-kind exchange
After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2022 by 2.5 cents per mile. TheRead More »Will the standard business mileage rate go up in 2022? Yes!
The number of people engaged in the “gig” or sharing economy has grown in recent years. In an August 2021 survey, the Pew Research Center found that 16% of Americans have earned money at someRead More »Gig workers should understand their tax obligations
Business owners, year end is officially here. It may even be over by the time you read this. (If so, Happy New Year!) In any case, the end of one year and the beginning ofRead More »Review your strategic plan … and look ahead
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that applyRead More »2022 Q1 tax calendar: Key deadlines for businesses and other employers
If you’re paying back college loans for yourself or your children, you may wonder if you can deduct the interest you pay on the loans. The answer is yes, subject to certain limits. The maximumRead More »There’s a deduction for student loan interest … but do you qualify for it?
As the year winds down, business owners have many calendar months to look back on to determine how successfully their products or services have sold. While reviewing the numbers, think about your people, too. ToRead More »The fundamentals of a solid salesperson