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2024 Q4 tax calendar: Key deadlines for businesses and other employers

Leave a Comment / 2024 Income Tax Return Filing Season, 2024 Tax Calendar, C Corporation, Federal Income Tax Filing, FICA, IRA, Savings Incentives Match Plans for Employees (SIMPLEs), Simples, Social Security & Medicare (FICA) taxes / Douglas Freeman

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Note: […]

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IRAs: Build a tax-favored retirement nest egg

Federal Taxes, IRA, IRA Early Withdrawal, Modified Adjusted Gross Income (MAGI), Roth IRA, Simples, The Secure Act 2.0, Traditional IRA / Douglas Freeman

Although traditional IRAs and Roth IRAs have been around for decades, the rules involved have changed many times. The Secure 2.0 law, which was enacted at the end of 2022, brought even more changes that made IRAs more advantageous for many taxpayers. What hasn’t changed is that they can help you save for retirement on

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Numerous tax limits affecting businesses have increased for 2022

401K, Business Deductions, Business Travel Deductions, Deductions, Employees, Flexable Spending Accounts, Health Savings Account, Retirement, Simples, Small Business, Social Security & Medicare (FICA) taxes / Douglas Freeman

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

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Simple retirement savings options for your small business

Contributions, Employees, Investment, Pension benefit, Retirement, Simples, Simplified Employee Pension (SEP), Small Business, Tax Deduction / Douglas Freeman

Are you thinking about setting up a retirement plan for yourself and your employees, but you’re worried about the financial commitment and administrative burdens involved in providing a traditional pension plan? Two options to consider are a “simplified employee pension” (SEP) or a “savings incentive match plan for employees” (SIMPLE). SEPs are intended as an

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Launching a small business? Here are some tax considerations

Business Deductions, Business Expenses, Employees, Qualified Business Income Deducton (QBI), Retirement, Simples, Simplified Employee Pension (SEP), Small Business, Sole Proprietors / Douglas Freeman

While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these people start out operating as sole proprietors. Here are some tax rules and considerations involved in operating with that entity. The pass-through deduction. To the extent your business generates qualified business income

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Many tax amounts affecting businesses have increased for 2021

401K, Business Meals and Entertainment, Deductions, Section 179, Simples, Small Business, Social Security / Douglas Freeman

A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same due to low inflation. And the deduction for business meals has doubled for this year after a new law was enacted at the end of 2020. Here’s a rundown of those that

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Taking distributions from a traditional IRA

IRA, Required Minimum Distributions (RMDs), Retirement, Roth IRA, Simples, Simplified Employee Pension (SEP), Tax Planning / Douglas Freeman

Although planning is needed to help build the biggest possible nest egg in your traditional IRA (including a SEP-IRA and SIMPLE-IRA), it’s even more critical that you plan for withdrawals from these tax-deferred retirement vehicles. There are three areas where knowing the fine points of the IRA distribution rules can make a big difference in

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2020 Q4 tax calendar: Key deadlines for businesses and other employers

401K, C Corporation, FICA, Income Tax, Retirement, Safe Habor, Simples, Simplified Employee Pension (SEP), Small Business, Tax Calendar / Douglas Freeman

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Thursday,

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Do you want to go into business for yourself?

Deductable Expenses, Past-Through Entities, Retirement, Self Employment Tax, Simples, Simplified Employee Pension (SEP), Small Business, Social Security & Medicare (FICA) taxes / Douglas Freeman

Many people who launch small businesses start out as sole proprietors. Here are nine tax rules and considerations involved in operating as that entity. 1. You may qualify for the pass-through deduction. To the extent your business generates qualified business income, you are eligible to claim the 20% pass-through deduction, subject to limitations. The deduction

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Numerous tax limits affecting businesses have increased for 2020

401K, HSA, Retirement, Simples, Small Business, Social Security / Douglas Freeman

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your business. Social Security tax. The amount of employees’ earnings that are subject to Social Security tax is capped for 2020 at $137,700 (up from $132,900

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