For recently launched start-ups, the focus is all on expense control and brand image. Most early startups only have funding for basic operations, but once they gain some stability then they can start incorporating other important business elements to the company. For companies that make it past that tenuous initial stage, there comes a time […]

Several tax credits were created with the Inflation Reduction Act (IRA) in 2022. These credits are aimed at the promotion of clean energy, but they may be disappearing soon. If getting a tax break and using cleaner energy sounds appealing, take advantage of them now before they are rescinded or expire. On the campaign trail, […]

For a small unincorporated business that is growing, self-employment (SE) taxes can grow fast too. In learning how the SE tax is structured and collected, self-employed individuals like you can understand better how it will affect their small businesses. SE tax basics The maximum 15.3% SE tax rate hits the first $168,600 of your 2024 […]

Under the newly signed Corporate Transparency Act (CTA) many businesses will have a new reporting requirement this year. Under this new act, if your business is deemed a “reporting Company” you may fall under the Beneficial Ownership Information reporting rules beginning in 2024 Who’s who? A reporting company includes any corporation, limited liability company or […]

Instead of stock option awards companies have started offering restricted stock awards. Restricted stock awards are popular because stock options can lose their value overtime. If your restricted stock loses value overtime, your company can issue more shares to make up for the loss in value. Restricted stock awards can be a great way to […]

Whether you are restructuring your current business or starting a new one, you should use careful consideration when choosing the entity type for your business. There are many entity types to consider when deciding what entity will benefit your business the most. You may decide the most beneficial entity type would be a C Corporation […]

Given the advancements of technology in the business world, most companies are sitting on a lot of sensitive data that could be abducted, exploited, corrupted or even destroyed. Of course, there is always danger of outside parties hacking your network to do harm but there are also, internal risks – namely, your “privileged users”. Simply […]

If your employer offers a 401(k) plan that you do not participate in, you might be wondering if you should be. Normally it could save you on your taxes while you are contributing to your retirement. These plans help you accumulate savings for retirement and receiving a tax advantage while doing it. If you are […]

Do you have employees that are traveling and having to document every expense while they travel? Perhaps you as a business owner are annoyed at reviewing this documentation every time your employees travel. There may be a way that you can simplify the way these expenses are reimbursed. In Notice 2023-68, the IRS announced the […]

Benefit plans adhere to the regulations established by the Employee Retirement Income Security Act (ERISA), which entail numerous rules and substantial documentation. A request could be received from the U.S. Department of Labor (DOL) for plan-related documents — commonly referred to as a “plan audit.” Here are the basic steps that a DOL plan audit […]