Understanding the tax implications when selling property used in your trade or business is crucial for navigating the complexities of tax law. No matter what you’re considering selling, the rules governing these transactions are multifaceted and can significantly impact your tax liability. In this discussion, for simplicities sake, we’ll assume that the property you want […]

When companies reach the point where they are ready to sponsor a qualified retirement plan, the first one that may come to mind is the 401(k). But there are other, less commonly used options that could suit the distinctive needs of some business owners. Case in point: the 412(e)(3) plan. Nuts and bolts Unlike 401(k)s, […]

If you are a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from your traditional IRA, you may want to consider making a tax-saving strategy. It involves making a qualified charitable distribution (QCD). How it works To reap the possible tax advantages of a QCD, you make a cash donation to […]

Do you own a closely held corporation? You can borrow funds from your business at rates that are lower than those charged by banks. But remember it’s important to avoid certain risks and charge an adequate interest rate. Basics of this strategy Interest rates have increased over the last couple years. As a result, shareholders […]

Technology continues to be an integral part of many companies and it will only continue to grow. If your company has grown to the point where it could use an executive-level employee with specialized knowledge of and laser focus on technology issues, you have plenty of options. According to the Business Software Market Size report […]

A whirl wind of changes may be around the corner as many tax provisions are set to expire soon. There is uncertainty as what to expect due to upcoming elections this November. Our current situation The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made sweeping changes. Many of its provisions […]

Here are several significant tax deadlines to be aware of in the third quarter of 2024. Please be aware that while this list is informative, it may not encompass all applicable deadlines for your specific circumstances. We encourage you to reach out to your Rudler advisor to ensure compliance with all relevant deadlines and to […]

Operating a family business can be very meaningful, when working with people close to you. But compensation can be a tricky issue, requiring planning and strategies to appropriately pay both nonfamily and family employees. Knowing how to address the compensation issue will help your company’s success, with everyone motivated to work for the same objectives.

How you much you pay in Social Security tax depends on how you are employed. While many people may not understand how the tax works, understanding how it comes out of your paycheck can be useful, especially when the ceiling increases each year. If you’re an employee If you’re an employee, your wages are hit […]

If you are considering hiring your child as an employee this summer, there are several things you be aware of so that you can both use the period to your advantages. As an actual employee, there are many tax benefits for your child that will also be beneficial for your business. Benefits for your child […]