The “wash sale” rule: Don’t let losses circle the drain
Stock, mutual fund and ETF prices have bounced around lately. If you make what turns out to be an ill-fated investment in a taxable brokerage firm acc...
An education plan can pay off for your employees — and your business
Your business can set up an educational assistance plan that can give each eligible employee up to $5,250 in annual federal-income-tax-free and federa...
Understanding the “step-up in basis” when inheriting assets
If you inherit assets after a loved one passes away, they often arrive with a valuable — but frequently misunderstood — tax benefit called the step-up...
How companies can spot dangers by examining concentration
At first glance, the word “concentration” might seem to describe a positive quality for any business owner. You need to concentrate, right? Only throu...
What tax documents can you safely shred? And which ones should you keep?
Once your 2024 tax return is in the hands of the IRS, you may be tempted to clear out file cabinets and delete digital folders. But before reaching fo...
Businesses considering incorporation should beware of the reasonable compensation conundrum
Small to midsize businesses have valid reasons for incorporating, not the least of which is putting that cool “Inc.” at the end of their names. Other...
An essential tax deadline is coming up — and it’s unrelated to your 2024 return filing
Tuesday, April 15 is the deadline for filing your 2024 tax return. But another tax deadline is coming up the same day, and it’s essential for certain...
Small business alert: Watch out for the 100% penalty
Some tax sins are much worse than others. An example is failing to pay over federal income and employment taxes that have been withheld from employees...
Like many business owners, you’ve probably received a lot of technology advice. One term you may hear frequently is “tech stack.” Information technolo...
Discover if you qualify for “head of household” tax filing status
When we prepare your tax return, we’ll check one of the following filing statuses: single, married filing jointly, married filing separately, head of...
