Category Archives: Blog
Business website expenses: How they’re handled for tax purposes
Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted. But there are established rules that generally apply to the deductibility of business expenses and provide business taxpayers … Continue reading
A power of appointment can provide estate planning flexibility
A difficult aspect of planning your estate is taking into account your family members’ needs after your death. Indeed, after you’re gone, events may transpire that you hadn’t anticipated or couldn’t have reasonably foreseen. While there’s no way to predict … Continue reading
Understanding your obligations: Does your business need to report employee health coverage?
Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding the reporting requirements of federal agencies such as the IRS. Does … Continue reading
Does a FAST make sense for your estate plan?
On the one hand, you want your estate plan to achieve certain “technical” objectives. These may include minimizing gift and estate taxes, and protecting your assets from creditors’ claims or frivolous lawsuits. On the other hand, you also want your … Continue reading
Working remotely is convenient, but it may have tax consequences
Many employees began working remotely during the pandemic and continue doing so today. Remote work has many advantages for employers and employees, and as a result, it’s here to stay in many industries. But it may also lead to some … Continue reading
The tax implications of disability income benefits
Many Americans receive disability income. Are you one of them, or will you soon be? If so, you may ask: Is the income taxed and if it is, how? It depends on the type of disability benefit and your overall … Continue reading
2024 Q4 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to … Continue reading
How are Series EE savings bonds taxed?
Savings bonds are purchased by many Americans, often as a way to help fund college or show their patriotism. Series EE bonds, which replaced Series E bonds, were first issued in 1980. From 2001 to 2011, they were designated as … Continue reading
Major Tax Proposals of Vice President Kamala Harris: A Comprehensive Overview
Major Tax Proposals of Vice President Kamala Harris: A Comprehensive Overview As we approach the November election, we thought we should take a closer look at the major tax proposals of Vice President Kamala Harris. These proposals aim to reshape … Continue reading
It’s time for your small business to think about year-end tax planning
With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and next. The strategy of deferring income and accelerating deductions to minimize taxes can be effective … Continue reading