If your business is closing its doors, taxes may be the last thing on your mind. But there are a number of tax obligations that must be met when a business shuts down. Here are the basic requirements.
Intangible assets: How must the costs incurred be capitalized?
Any transaction your business engages in involving intangible assets and their related costs should be analyzed to determine the tax implications. Here are the basic rules.
5 steps to take now to cut your 2022 tax liability
Are you interested in reducing your 2022 tax liability? There’s still time to take these year-end tax planning steps.
2023 limits for businesses that have HSAs — or want to establish them
Do you have a Health Savings Account at your business? Or are you interested in establishing one? Here are the contribution limits for next year, as compared with this year.
Reviewing 10 tax accounting methods for construction companies
Construction companies can use various accounting methods for tax-reporting purposes. Here’s a handy review of 10 of the most widely used approaches.
Inflation means you and your employees can save more for retirement in 2023
The tax-advantaged retirement plan contribution amounts will be much higher next year than they’ve been in recent years. The reason? Inflation. Find out how much can be saved in 401(k)s, SEP plans, IRAs and more.
Employers: In 2023, the Social Security wage base is going up
Business owners and their employees may not have to pay Social Security tax on ALL of their wages. Amounts above a certain threshold aren’t subject to Social Security tax. Here’s how the 2023 “wage base” will affect your payroll.
What do the 2023 cost-of-living adjustment numbers mean for you?
Don’t forget to factor 2023 cost-of-living adjustments into your year-end tax planning.
Inflation Reduction Act expands deductions for energy-efficient construction
Can you benefit from the Inflation Reduction Act’s expansion of two tax incentives for energy-efficient construction of commercial and residential buildings? These are the Sec. 179D deduction and the Sec. 45L credit.
Providing fringe benefits to employees with no tax strings attached
Your business may provide low- or no-cost tax-free fringe benefits to employees. Here are the details of these benefits, along with a court case in which an employee was found to have received a taxable benefit but he didn’t include its value in his income.
