by Brian Hare, CPA, CGMA | Oct 31, 2024 | Blog, Business, Tax
If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is also an option for self-employed individuals or business owners who wish to upgrade from a SIMPLE IRA or Simplified...
by Brian Hare, CPA, CGMA | Sep 26, 2024 | Uncategorized
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all...
by Brian Hare, CPA, CGMA | Sep 11, 2024 | Business, Tax, Uncategorized
With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and next. The strategy of deferring income and accelerating deductions to minimize taxes can be effective for most businesses, as is...
by Brian Hare, CPA, CGMA | Aug 30, 2024 | Blog, Tax
Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Let’s take a look at these taxes and what they could mean for you. 1. The NIIT In addition to income...
by Brian Hare, CPA, CGMA | Aug 8, 2024 | Business, Tax
Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s scheduled to expire in about 17 months and how politicians in Washington...
