Small Businesses: Cash in on Depreciation Tax Savers
As we approach the end of the year, it is a good time to think about whether your business needs to buy business equipment and other depreciable property. If so,
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Steer Clear of the Wash Sale Rule if You Are Selling Stock by Year End
Are you thinking about selling stock shares at a loss to offset gains that you have realized during 2020? If so, it is important not to run afoul of the
Low Tax Cost Cash Withdrawal from Your Closely-Held Corporation
Owners of closely held corporations are often interested in easily withdrawing money from their businesses at the lowest possible tax cost. The simplest way is to distribute cash as a
How Series EE Savings Bonds Are Taxed
Many people have Series EE savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself and put
Health Savings Accounts for Your Small Business
Small business owners are well aware of the increasing cost of employee health care benefits. As a result, your business may be interested in providing some of these benefits through
Taking Distributions from a Traditional Individual Retirement Account
Although planning is needed to help build the biggest possible nest egg in your traditional individual retirement account (IRA) (including a Simplified Employee Pension IRA and Savings Incentive Match Plan
Tax Planning for President-Elect Biden’s Proposed Tax Changes
Now that Joe Biden has been projected as the winner of the presidential election by major news outlets,* you may wonder if your federal taxes will be affected. President-elect Biden
2021 Cost-of-Living Adjustments for Popular Fringe Benefits
The IRS recently released 2021 cost-of-living adjustments (COLAs) for a wide variety of tax-related limits, including those related to many popular fringe benefits. Here are some highlights to be aware
What Do The 2021 Cost-Of-Living Adjustment Numbers Mean for You?
The IRS has announced its 2021 cost-of-living adjustments to tax amounts that might affect you. Many increased to account for inflation but some remained at 2020 levels. As you implement
Tax Responsibilities for Businesses Closing Amid the Pandemic
Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If this is your situation, we are here to assist you in any way we can, including helping with