Do you currently or have you thought about investing in mutual funds? According to the Investment Company Institute, a survey found 58.7 million households owned mutual funds in mid-2020. But despite their popularity, the tax rules involved in selling mutual fund shares can be complex.   What are the basic tax rules? Let’s say you […]

One provision of the new COVID-19 relief bills, is an increase to the business meals deduction. This means, for 2022 (and 2021) you can deduct 100% of your business meals instead of the 50% limitation that is normal deduction. So, indulge your customers and your team with some birria tacos or feta pasta. Then write […]

While it is required by law and a good business practice to have – maintaining equitable earnings to employees executing the same or similar jobs isn’t easy given differences in tenure and experience for each employee. However, it is important that companies should consider initiating a pay equity audit to determine if their compensation philosophy […]

Time is running out to the April 18 deadline to file your tax returns. Since it’s not always feasible to gather all your documents by the due date, it’s important to file an extension on form 4868 to gain more time to file. An extension will give you until October 17 to file and allows […]

Do you know all your important Q2 2022 deadlines for your business? Below are some of the important tax-related deadlines but there could be other deadlines that apply to your business. Contact your Rudler, PSC advisor to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. April 18 If you’re […]

Many businesses offer their employees help with challenges, such as: substance dependence, financial planning, legal issues, and mental health issues. Some of these options can be considered is an employee assistance program (EAP). When considering an EAP, many business owners eventually ask a common question: Will the program be subject to the Employee Retirement Income […]

Many individuals own a vacation property, and contemplate renting it out for the time period in which it is not being used. The tax treatment depends on how many days it’s rented and your level of personal use. Personal use includes vacation use by your relatives (even if you charge them market rate rent) and […]

Usually, a business will want to delay recognition of income and take expenses in the current year. It may be advantageous to your business to recognize income in the current year and delay recognition of expenses. One reason might be tax law changes that raise tax rates. Another reason may be because you expect your […]

As a business owner, you are regularly urged to “see the big picture.” In many cases, this imperative applies to a pricing adjustment or some other strategic planning idea. The big picture, however, also matters when it comes to managing the performance of your staff. Perhaps the best way to get a fully rounded perspective […]

If you have inherited certain types of property such as IRAs or other retirement plans, are you aware of the income tax implications? The “income in respect of decedent” (IRD) may create a surprising tax bill for those who inherit retirement plan money or other IRD items. Fortunately your Rudler, PSC advisor is here to […]