Since the only thing flying high are gas prices, the IRS has increased the mileage deduction for the remainder of 2022.   We have all felt the impact of the massive increase in fuel costs. This has affected small businesses especially hard. the average nationwide price of a gallon of unleaded regular gas on June […]

One of the crucial areas of concern for every business is accounts payable. Many times, since the accounts payable process is seen as a back-office function, the processes can easily be taken for granted and not receive the attention it deserves. Below are some tips and practices that can enhance your company’s approach to accounts […]

The current estate tax exemption amount is $12.06 million in 2022. This number means that there are many individuals that believe they no longer need to be concerned with federal estate tax. The focus of planning can be on saving income taxes for heirs. Here are some strategies to consider in light of the current […]

C corporations that collect dividends have a beneficial tax deduction available to them. It is called the “dividends-received deduction” and it lessens or potentially diminishes the extra level of tax on dividends that a corporation can receive. This results in the corporation’s tax rate on dividends being lower than their rate on capital gains. Ordinarily, […]

Many businesses as still reeling from the effects of the COVID-19 pandemic shutdowns, the Great Resignation and supply chain issues. Hopefully, your business was one of many that took advantage of the Paycheck Protection Loan Program (PPP) and the Employee Retention Tax Credit (ERC). PPP Forgiveness As a reminder, when the CARES Act was passed […]

Strategic planning will better the position the company to sell more to current customers, and possibly to new markets as well. However, there are a variety of different aspects that go into strategic planning, thus making it difficult to know where to start and in which direction to go. Here are a few simple ways […]

Upon claiming Social Security benefits, some people are unaware that they will be taxed by the federal government for the amounts that they receive. This is no surprise as it is different for each person. Whether you are taxed on your Social Security benefits is dependent on your other income. Essentially, if your income is […]

If your small company or start-up business is planning to claim the research tax credit, there is an option you can undertake, subject to limits. This opportunity is to elect to apply all or some of any research tax credits that you earn against your payroll taxes instead of your income tax. This election may […]

Businesses with multiple owners generally benefit from a variety of viewpoints, diverse experience and strategic areas of specialization. However, what would happen if one of the owners decides, or is compelled by circumstances, to leave? At Rudler we suggest the creation and implementation of a buy-sell agreement. This is a legal document that spells out […]

Did the downturn in the stock market cause the value of your retirement account to decrease? If it did and you have a traditional IRA, this decline may provide a valuable opportunity for you to convert your traditional IRA to a Roth IRA at a lower tax cost. Traditional vs. Roth Here is what makes […]