Answers to your questions about taking withdrawals from IRAs
January 23, 2023
As you may know, you can’t keep funds in your traditional IRA indefinitely. You have to start taking withdrawals from a traditional IRA…
Does your family business’s succession plan include estate planning strategies?
January 20, 2023
Family-owned businesses face distinctive challenges when it comes to succession planning. For example, it’s important to address the…
Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?
January 18, 2023
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred…
Selling stock by year-end? Watch out for the wash sale rule
January 16, 2023
If you’re thinking about selling stock shares at a loss to offset gains that you’ve realized during 2022, it’s important to watch out for…
Tax Filing DeadlinesTax Planning
Timing is everything when it comes to accounting software upgrades
January 13, 2023
“Well, it still works, and everyone knows how to use it, but….” Do these words sound familiar? Many businesses stick with their accounting…
Tax Filing DeadlinesTax Planning
2023 Q1 tax calendar: Key deadlines for businesses and other employers
January 11, 2023
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that…
Save for retirement by getting the most out of your 401(k) plan
January 9, 2023
Socking away money in a tax-advantaged retirement plan can help you reduce taxes and help secure a comfortable retirement. If your employer…
BusinessTax PlanningCapital Gains
Inbound vs. outbound: Balancing your company’s sales strategies
January 6, 2023
It might sound like the lingo of air traffic controllers — inbound vs. outbound. But businesses of all types must grapple with these…
How to minimize the S corporation LIFO recapture tax
January 4, 2023
If you’re considering converting your C corporation to an S corporation, be aware that there may be tax implications if you’ve been using…
Look forward to next year by revisiting your business plan
January 2, 2023
Businesses of all stripes are about to embark upon a new calendar year. Whether you’ve done a lot of strategic planning or just a little, a…
Renting to a relative? Watch out for tax traps
December 30, 2022
If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules…
Strategies for investors to cut taxes as year-end approaches
December 1, 2022
The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some…
Computer software costs: How does your business deduct them?
November 21, 2022
These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops…
BusinessImpact on TaxesTax Planning
Adopting a child? Bring home a tax break too
November 18, 2022
Two tax benefits are available to offset the expenses of adopting a child. In 2022, adoptive parents may be able to claim a credit against…
2023 limits for businesses that have HSAs — or want to establish them
November 16, 2022
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these…
Reinforce your cybersecurity defenses regularly
November 14, 2022
If you’ve been in business for any amount of time, you probably don’t need anyone to tell you about the importance of cybersecurity.…
Financial PlanningTax PlanningIndividual Tax
How inflation will affect your 2022 and 2023 tax bills
November 11, 2022
The effects of inflation are all around. You’re probably paying more for gas, food, health care and other expenses than you were last year.…
Financial PlanningTax PlanningIndividual Tax
Inflation means you and your employees can save more for retirement in 2023
November 9, 2022
How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently…
Financial PlanningTax PlanningIndividual Tax
You may be liable for “nanny tax” for all types of domestic workers
November 7, 2022
You’ve probably heard of the “nanny tax.” But even if you don’t employ a nanny, it may apply to you. Hiring a house cleaner, gardener or…
Manageable growth should be a strategic planning focus
November 4, 2022
When a company’s leadership engages in strategic planning, growing the business is typically at the top of the agenda. This is as it should…
Financial PlanningTax PlanningIndividual Tax
Plan now to make tax-smart year-end gifts to loved ones
November 2, 2022
Are you feeling generous at year-end? Taxpayers can transfer substantial amounts free of gift taxes to their children or other recipients…
M&A on the way? Consider a QOE report
October 31, 2022
Whether you’re considering selling your business or acquiring another one, due diligence is a must. In many mergers and acquisitions…
Tax and other financial consequences of tax-free bonds
October 24, 2022
If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment…
Financial PlanningSuccession Planning
Investing in the future with a 529 education plan
October 21, 2022
If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also…