Does your start-up business have a practical budget?

According to the U.S. Census Bureau, during the month of October 2022, a total of 432,834 new business applications for tax identification numbers was received. Well-established businesses tend to have business plans and budgets and it’s important to have these things when starting a new company. Continue reading this article for some basics of practical […]

Do you know how savings bonds are taxed?

Have you ever received a savings bond as a gift or purchased one years ago? Do you ever think about how the interest earned on these bonds is taxed? Are there any potential unexpected tax consequences that need to be thought of when the bond reaches final maturity? Learn more about savings bonds and what […]

Does your business deduct computer software costs?

Buying or leasing computer software to operate a business is very common these days as well as having businesses that create the software to use in products or services or to sell or lease to others. If your business is involved in any of these situations, it’s important to be cognizant of the complicated rules […]

Adjusting your Marketing Strategies?

2022 is coming to an end and due to the changes in rising inflation and supply chain issues, marketing strategies should be reevaluated and adjusted to best fit your customer’s needs. Address the audience A good place to start is with your audience. To whom will you market your business? Consider each prospect, existing customer […]

Adopting a Child can Provide Tax Savings

If you are planning on adopting a child in the near future, there are a couple tax benefits that you can utilize. In 2022, parents may be able to claim up to $14,890 for qualified adoption expense for each child. This is a dollar-for-dollar reduction of tax. The parents may also be able to exclude […]

Business with HSAs

For eligible individuals, an HSA offers a tax-advantaged way to set aside funds (or have their employers do so) to meet future medical needs. Some benefits of HSAs include: Contributions that participants make to an HSA are deductible, within limits. Contributions that employers make aren’t taxed to participants. Earnings on the funds in an HSA […]

Security for employees’ retirement based on new law.

To start the new year, Congress has made considerable changes to individual retirement savings, whether it be with an IRA or other plan. With the passing of the SECURE ACT, these four changes have been made to individual retirement plans. As we head into a new year, the federal government has made beneficial legislative changes […]