Employer Q&As: The Tax Treatment Of Tips
Certain industries employ service workers who receive tips as a large part of their compensation. A few examples include restaurants, hotels, and salons. If your business has employees who receive
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Four Tax Tips To Help You Prepare For Retirement
Retirement is often viewed as an opportunity to travel, spend time with family, or simply enjoy the fruits of a long career. Yet the transition can bring many tax considerations,
2025 Increases In Business Tax Limits
A variety of tax-related limits that affect businesses are indexed annually based on inflation. Many have increased for 2025, but the increases aren’t as great as they have been in
Review The 2025 Tax Limits As You Prepare To File Your 2024 Return
Chances are, right now you’re more concerned about your 2024 tax return than you are about your 2025 tax situation. That’s understandable because April 15 is the filing deadline for
Business Tax Deadline Approaching: Form W-2 & 1099-NEC
With the 2025 tax filing season underway, be aware that the deadline is approaching for businesses to submit certain information returns to the federal government and furnish them to workers.
Tax Season Q&As: Benefits To Filing Early
The IRS announced it will start the 2025 filing season for individual income tax returns on January 27. That’s when the agency began accepting and processing 2024 tax year returns.
IRS Issues Increase In The 2025 Standard Business Mileage Rate
The nationwide price of gas is slightly higher than it was a year ago and the 2025 optional standard mileage rate used to calculate the deductible cost of operating an
Q&As Regarding IRA Withdrawals
Once you reach age 73, tax law requires you to begin taking withdrawals — called Required Minimum Distributions (RMDs) — from your traditional IRA, SIMPLE IRA, and SEP IRA. It’s
Combining A Heavy Vehicle Plus A Home Office For Potential Small Business Tax Savings
New and used “heavy” SUVs, pickups, and vans placed in service in 2025 are potentially eligible for big first-year depreciation write-offs. However, one requirement is you must use the vehicle
Tax Breaks & Essential Strategies To Improve College Savings
As higher education costs continue to rise, you may be concerned about how to save and pay for college. Fortunately, several U.S. tax code tools and strategies may help ease