Ideas & Insight

Are you getting a divorce? Do you own a business together? Read this blog to find out the tax consequences.

Tax implications to a guaranteed loan to your corporation. Read on to find out how this might affect your corporation.

Does your employer provide life insurance? Read on to discover the tax consequences this may imply.

If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for […]

Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return. The requirements Each person who, in the course of operating a trade or business, receives more than $10,000 in cash in one transaction (or […]

The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able to provide more help to staff members facing emergencies. This will be done through what the law calls “pension-linked emergency savings accounts.” Effective for plan years beginning […]

The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you can deduct the interest you pay on your tax return. The answer may be yes, subject to certain limits. The deduction is phased out if your […]

As the Fed continues to do battle with inflation, and with fears of a recession not quite going away, companies have been keeping a close eye on the costs of their health care benefits and pharmacy coverage. If you’re facing higher costs for health care benefits this year, it probably doesn’t come as a big […]

The latest news from Paychex: Business owners should be aware of important Form I-9 updates announced by the U.S. Department of Homeland Security (DHS) and U.S. Immigration and Customs Enforcement (ICE) DHS and ICE have announced: As of July 31, 2023, with the end of the COVID-19 temporary flexibilities, employers no longer have the option to inspect […]

Every business should dedicate time and resources to cybersecurity. Hackers are out there, in many cases far across the globe, and they’re on the prowl for vulnerable companies. These criminals typically strike at random — doing damage to not only a business’s ability to operate, but also its reputation. One way to protect yourself, at […]