Remember To Empty Your Flexible Spending Account By Year End
If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care costs, an important deadline is approaching. You may have to
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Category: Tax
Act Now: You May Still Have Time To Reduce Your Small Business 2023 Tax Bill
Between holiday parties and buying presents, don’t forget to think about ways to reduce your business’ 2023 tax liability. Although the clock is ticking, you still have time to take
The Key 2024 Inflation-Adjusted Federal Tax Amounts For Individuals
Recently, the IRS announced several 2024 inflation-adjusted federal tax amounts that affect individual taxpayers. Most of the federal income tax rate bracket thresholds are about 5.4% higher than for 2023.
The Key 2024 Inflation-Adjusted Tax Parameters For Small Businesses & Their Owners
Recently, the IRS announced several inflation-adjusted federal income tax amounts. Here’s an overview of the amounts most likely to affect small businesses and their owners. Rates & Brackets If you
Here Are The 11 Exceptions To The 10% Penalty Tax On Early IRA Withdrawals
If you’re in the midst of a serious cash shortage, one possible consideration is to take an early withdrawal from your traditional IRA; meaning, before you’ve reached age 59½. For
Would A Cost Segregation Study Reduce Taxes & Boost Cash Flow?
Is your business depreciating the entire cost of constructing the building that houses your enterprise over a period of 30 years? If yes, you might want to think about doing
An Overview Of Restricted Stock Awards & Taxes
One popular way for companies to offer equity-oriented compensation to executives is through restricted stock awards. And some businesses actually offer them in lieu of stock option awards because options
Which Business Entity Is Best For Your Situation?
If you plan to start a business or change your business entity, you have to figure out what’s best for your situation. Should you operate as a C corporation or
The Basics Of Contributing To Your Employer’s 401(K) Plan
If your employer offers a 401(k) plan, and you’re not putting money into it, you might be wondering if you should participate. Essentially, it’s a convenient way to save for
New Per Diem Business Travel Rates Were Effective October 1
Are your employees tired of dealing with travel expenses, and you’re frustrated with the hassle of reviewing these expenses? Well, there’s some good news. In Notice 2023-68, the IRS announced