A new benefit option is available as a part of SECURE 2.0

A Pension-linked emergency savings account (PLESA), a part of the SECURE 2.0 act, is now available for plan years beginning January 1, 2024. If adopted by a Plan Sponsor, certain employees could make after-tax Roth contributions to a PLESA account to pay emergency expenses. You can find Guidance in Notice 2024-22 and frequently asked questions […]

Account-based marketing can help companies rejoice in ROI

When thinking about marketing, some business owners and leadership teams will “cast a wide net” in order to maximize on business. If your company is looking to build business-to-business sales, a generalized marketing approach could leave some potential customers feeling like they received a vague response or the provider does not really know them. Account-based […]

Qualified Small Business Corporation status could help save on taxes

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains QSBCs are the same as garden-variety C corporations for tax and legal purposes — except QSBC shareholders are potentially eligible to exclude from federal income tax 100% of their stock sale gains. That […]

Has your business purchased a software that does not meet it needs?

Making mistakes is something nobody enjoys, and this sentiment is particularly heightened in the business realm, where an erroneous decision can cause financial losses, wasted time, and resource depletion. Recent survey findings shows that a significant number of companies are incurring substantial costs by purchasing inappropriate software. The report in question is the 2024 Tech […]

Are you aware your businesses may qualify for tax credit if your employees receive tips?

Food and beverage and other hospitality service businesses where tipping is customary may qualify for a federal tax credit including Social security and Medicare( FICA) taxes on the tip income received by their employees. Credit fundamentals The FICA credit applies to tips that your staff members receive from customers when they buy food and beverages. […]

Conduct a Comprehensive Assessment to Evaluate the Efficiency of Your Business Operations

In the vast realm of mergers and acquisitions, where due diligence is a customary prelude to finalizing deals, business buyers meticulously investigate the financial, legal, and operational facets of the target company. However, as a business owner, why not turn the tables and embark on a self-conducted exploration of your own company? While delving into […]

Postpone Immediate Tax Payments through a Like-Kind Exchange

For those considering the sale of appreciated commercial or investment real estate, the prospect of a hefty tax bill on the gain might give pause. However, a strategic approach to defer such tax obligations exists through a Section 1031 “like-kind” exchange. This unique transaction allows you to exchange the property instead of selling it outright. […]