Are you planning to make financial gifts to loved ones? If so, consider giving appreciated stock instead of cash. You might be able to eliminate all federal tax liability on the appreciation — or at least significantly reduce it. Leveraging lower rates Investors generally are subject to a 15% tax rate on their long-term capital […]

Showing appreciation with meaningful business gifts can strengthen relationships. They can also unlock valuable tax benefits when handled correctly. Unfortunately, the IRS limits most business gift deductions to $25 per person per year, a cap that hasn’t changed since 1962. Still, with careful planning and good recordkeeping, you may be able to maximize your deductions.

As 2025 quickly comes to a close, and you begin making plans for the holiday season, we want to take a chance to remind S  Corporation shareholders to include planning for the required tax reporting and withholding requirements for health  insurance premiums paid by an S Corporation on behalf of more than 2 percent shareholder-employees.

As the end of the year fast approaches, we want to remind you of the tax reporting required for personal use of company provided vehicles. Law Fringe benefits provided to an employee are taxable to the employee and must be reported in his/her income unless the law specifically excludes the benefit. This rule includes the […]

Managing payroll goes far beyond compensating employees. Each paycheck carries a series of tax responsibilities that must be handled with precision to remain compliant. Consistent, accurate payroll tax management is vital to safeguarding your company’s reputation and preventing unnecessary penalties. Regularly reviewing your payroll tax processes and responsibilities helps ensure compliance and keeps your operations […]

The Social Security Administration has announced the wage base limit for 2026, and the change could have important implications for employees and the self-employed. Understanding how this update affects you and your taxes is key to staying compliant and planning ahead. Let’s take a closer look at what’s changing and how it may impact you.

Forecasting your business’s income for this year and the next can help you strategically time income and deductible expenses to maximize tax advantages. In many cases, it’s beneficial to defer income – and thus the related taxes – unless you expect to move into a higher tax bracket next year. Cash-basis businesses often have more […]

AI is changing the business landscape. It can process data at incredible speed, automate complex tasks, and replicate aspects of human communication, all of which can help efficiency and innovation. AI can also cause many issues. Employees might misuse the technology, whether by accident or on purpose, leading to ethical or legal issues. Unfortunately, most […]

 Health care costs are continually more expensive, but there are ways to manage the costs. One option is combining a high-deductible health plan (HDHP) with a health savings account (HSA). The HDHP lowers your monthly premiums, and the HSA lets you save pre-tax dollars to pay for medical expenses, including your deductible. 5 HSA tax […]

Paying deductible expenses before year-end can help reduce your 2025 taxes, and maybe even lock in long-term savings. Don’t forget to factor in the One Big Beautiful Bill Act (OBBBA), which made some of the Tax Cuts and Jobs Act’s (TCJA) tax changes permanent and altered others that had reduced available deductions. “Ordinary and necessary” […]