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Small Business

Tax credit for hiring from certain “target groups” can provide substantial tax savings

Business Credit, Income Tax, Small Business, Tax Credits, Tax Savings, WOTC /

Many businesses hired in 2017, and more are planning to hire in 2018. If you’re among them and your hires include members of a “target group,” you may be eligible for the Work Opportunity tax credit (WOTC). If you made qualifying hires in 2017 and obtained proper certification, you can claim the WOTC on your 2017 tax […]

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TCJA Temporarily Lowers Medical Expense Deduction Threshold

Accounting, Small Business, Tax /

With rising health care costs, claiming whatever tax breaks related to health care that you can is more important than ever. But there’s a threshold for deducting medical expenses that may be hard to meet. Fortunately, the Tax Cuts and Jobs Act (TCJA) has temporarily reduced the threshold. What expenses are eligible? Medical expenses may

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