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 […]

To help you make the most of the tax-saving opportunities available to you, we’re pleased to introduce our Tax Planning Guide. It offers a wide variety of strategies for minimizing your taxes. The guide covers: Tax Planning Basics Investing Real Estate Business & Executive Comp Family & Education Charitable Giving Retirement Estate Planning To keep […]

Accurate financial statements are valuable resource for understanding your company’s performance, but the key is ensuring they’re prepared correctly. As your business grows and financial transactions become more complex, proper classification becomes increasingly challenging. Case in point: your statement of cash flows. Customarily, it shows the sources (money entering) and uses (money exiting) of cash. […]

Stock options provided by employers can be a significant financial asset for employees. In fact, many Silicon Valley success stories trace their wealth back to exercising stock options while working at start-up or rapidly expanding companies. We will now explain what you need to know about the federal income and employment tax rules for employer-issued […]

How much will you and your employees be able to contribute to your 401(k)s or other retirement plans in the coming year? According to Notice 2024-80, the IRS announced cost-of-living adjustments to the dollar limits for the retirement and other qualified plans for 2025. However, with inflation slowing, the increases are relatively modest. 401(k) plans […]

For business-to-business (B2B) companies, successful marketing starts with crafting credible, compelling messaging that captures attention. Equally important is selecting the most effective channels to reach your target audience. While digital marketing is essential, traditional strategies still hold value. A balanced approach that combines both proven and digital tactics is key to driving growth. Press releases […]

Hiring household help, such as a nanny, housekeeper or gardener, can provide substantial relief in managing childcare and daily household tasks. However, as an employer, it is essential to understand your tax responsibilities, often referred to as the “nanny tax.” If you hire a household employee who is not classified as an independent contractor, you […]

As a business owner, you may travel to engage with clients, attend conferences, evaluate vendor performance, and pursue other essential activities. Understanding the tax-deductibility of your travel expenses can significantly influence your financial outcomes. Effectively managing these costs not only ensures compliance, but also maximize your tax savings. Your tax home Eligible taxpayers can deduct […]

It’s a business owners’ nightmare – imagine your phone pings in the middle of the night with a message that makes your stomach drop: “We’re down.” Whether it’s your website, e-commerce platform, or another critical IT system, the nightmare is real. Your business is offline, and every minute that passes, money slips through your fingers.

As 2024 quickly comes to a close, and you begin making plans for the holiday season, we want to take a chance to remind S Corporation shareholders to include planning for the required tax reporting and withholding requirements for health insurance premiums paid by an S Corporation on behalf of more than 2 percent shareholder-employees.