by Brian Hare, CPA, CGMA | May 25, 2021 | Business
The IRS recently released guidance providing the 2022 inflation-adjusted amounts for 2022 Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account...
by Brian Hare, CPA, CGMA | May 19, 2021 | Business
The days of the Rolodex are long gone. To connect with customers and prospects, many businesses now rely on customer relationship management (CRM) software. These solutions give users easy access to comprehensive information — including detailed notes on existing...
by Brian Hare, CPA, CGMA | May 18, 2021 | Business
If your business is organized as a sole proprietorship or as a wholly owned limited liability company (LLC), you’re subject to both income tax and self-employment tax. There may be a way to cut your tax bill by conducting business as an S corporation. Fundamentals of...
by Brian Hare, CPA, CGMA | May 11, 2021 | Business
Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly error. It can be complex to...
by Brian Hare, CPA, CGMA | May 6, 2021 | Business, COVID-19
The COVID-19 pandemic has affected various industries in very different ways. Widespread lockdowns and discouraged movement have led to increased profitability for some manufacturers and many big-box retailers. The restaurant industry, however, has had a much harder...
