September 24, 2022 | Matt Matuzak, CPA, MBA, CGMA
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. 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 applicable deadlines and to learn more about the filing requirements. Note: […]Read More
September 22, 2022 | Brian Hare, CPA, CGMA
As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate plans attempting to avoid it. But now, because many estates won’t be subject to estate tax, more planning can be […]
September 16, 2022 | Brian Hare, CPA, CGMA
Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach. Any short-term benefits may be outweighed by the tax, liability and estate planning advantages of separating real estate ownership from the business. Tax […]
September 14, 2022 | Paula Kennedy, EA
In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last year. “The ongoing sales decline reflects the impact of the mortgage rate peak of 6% in early June,” said NAR Chief Economist Lawrence Yun. However, he added that […]
September 9, 2022 | Matt Matuzak, CPA, MBA, CGMA
Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard year-end approach of deferring income and accelerating deductions to minimize taxes will likely produce the best results for most businesses, as will bunching deductible expenses […]
September 7, 2022 | Ryan Burke, CPA, MSF
High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the taxes and what they may mean for you. 3.8% NIIT This tax applies, in addition to income tax, on your net investment income. The NIIT […]
September 1, 2022 | Brian Hare, CPA, CGMA
The new Inflation Reduction Act provides small businesses with an incentive to increase their investments in research.
September 1, 2022 | Akila Sivakumar
If you’re interested in purchasing energy-saving property for your home or an electric vehicle, you may qualify for a tax break under the new Inflation Reduction Act. Here are the basic rules.
August 24, 2022 | Matt Matuzak, CPA, MBA, CGMA
If you run a one-person small business, you might be able to build a bigger retirement nest egg with a solo 401(k) plan. Here are the basic rules.
August 24, 2022 | Paula Kennedy, EA
Many people started working from home during the pandemic and have continued working out of home offices. Some of them qualify for home office deductions, but unfortunately, not all of them do. Here are the rules.