Many estates will no longer need to worry about federal estate taxes as a result of the current estate tax exemption amount of $12.06 million as of 2022. If you do not need to worry about estate taxes, you can now spend more time planning around saving income taxes for your beneficiaries. While saving both […]

Below are some of the key tax-related deadlines for the rest of the 2022 year that may affect businesses and other employers. Please note that there may be additional deadlines that apply to you as this list is not all-inclusive. Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or […]

It is no secret that having customers is a huge part of your business. However, the saying “the more, the merrier” does not always apply when it comes to your customer base. Obviously, every company needs a solid customer or client base to survive. But, to truly thrive, you need to evaluate which customers are […]

When you hear talk about the housing market, you hear how crazy it has been in recent times. However, these crazy times do not stop some people from purchasing homes – some even use it to their advantage. If you’re buying a home, or you just bought one, you may wonder if you can deduct […]

Recently, the Biden administration outlined a plan to forgive up to $10,000 of student loan debt for individuals with federal student loan debt, and up to $20,000 in relief for individuals that were Pell Grant recipients. Individuals earning $125,000 ($250,000 for joint filers) or less a year are eligible to receive this relief. Normally, debt […]

As with any business strategy, there are pros and cons to the choices you make. Depending on what role your real estate plays in the operations of your business – separating your business from its real estate could very well be a strategy you could take advantage of with the pros outweighing the cons. Tax […]

In today’s data driven world, the impossible is becoming more of a reality and the best business owners are utilizing this data to their advantage. Forecasting key metrics — such as sales demand, receivables, payables and working capital — can help you manage overhead, offer competitive prices and keep your business on firm financial footing. […]

The government really wants to get their piece of the pie. High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the taxes and what they may mean for you. 3.8% NIIT This tax applies, in […]

Time flies when you are having fun and 2022 has truly flown by. So, it must have been a lot fun, right? Small business tax planning needs to be at the front of the to do list at this time of year. The standard year-end approach of deferring income and accelerating deductions to minimize taxes […]

A lot of business owners associate the word “audit” with tax, financial statements or retirement plans, however, there are many more areas of a business that can be audited to help better conduct those areas of the business. In addition to the usual areas associated with audits, if you’re looking to improve your marketing a […]