Now that 2022 is up and running, business owners can expect to face a few challenges and tough choices as the year rolls along. No matter how busy things get, don’t forget about an easily accessible and highly informative resource that’s probably just a few clicks away: your financial statements. Assuming you follow U.S. Generally […]
Let your financial statements guide you to optimal business decisions Read More »
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid hassles. Tip 1. Contact us soon for an appointment to prepare your tax return. Tip 2. Gather all documents needed to prepare an accurate return.
Smooth sailing: Tips to speed processing and avoid hassles this tax season Read More »
While some businesses have closed since the start of the COVID-19 crisis, many new ventures have launched. Entrepreneurs have cited a number of reasons why they decided to start a business in the midst of a pandemic. For example, they had more time, wanted to take advantage of new opportunities or needed money due to
Entrepreneurs and taxes: How expenses are claimed on tax returns Read More »
Companies that sell products or services primarily to other businesses face a tough challenge when it comes to marketing. Your customers are likely well-versed and experienced in what they do, so you must not only persuade them to buy from you but also communicate that you’re an expert in your industry or field. If you
Using B2B media to lengthen your marketing reach Read More »
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security tax. The amount of an employee’s earnings that is subject to Social Security tax is capped for 2022 at
Numerous tax limits affecting businesses have increased for 2022 Read More »
The IRS announced it is opening the 2021 individual income tax return filing season on January 24. (Business returns are already being accepted.) Even if you typically don’t file until much closer to the April deadline (or you file for an extension until October), consider filing earlier this year. Why? You can potentially protect yourself
Help safeguard your personal information by filing your 2021 tax return early Read More »
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Basics of the credit. The FICA credit applies with respect to tips that your employees
Businesses with employees who receive tips may be eligible for a tax credit Read More »
While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation. If you’re like most people, you’re probably more concerned about your 2021 tax bill right now than you are about
How will revised tax limits affect your 2022 taxes? Read More »
They say we live in an on-demand world. Right now, many business owners are demanding one thing: more workers. Unfortunately, the labor market is somewhat less than forthcoming. In the so-called “Great Resignation” of 2021, droves of people voluntarily left their jobs, and many aren’t rushing back to work. Neither are many of those who
Business owners, do you need to step up your internal communications game? Read More »
You may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but not easy. Medical expenses can be claimed as a deduction only to the extent your unreimbursed costs exceed 7.5% of your adjusted gross income. Plus, medical expenses are deductible only if
Are you eligible for a medical expense tax deduction? Read More »
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