Business owners don’t need to be reminded the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an
The effects of inflation are all around us. You’re probably paying more for gas, food, health care and other expenses than you were last year. Are you wondering
How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2022-55, the IRS recently announced cost-of-living adjustments that apply
You’ve probably heard of the “nanny tax.” But it may apply to you even if you don’t employ a nanny. Hiring a house cleaner, gardener, or other household
The Social Security Administration recently announced the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment
Do you typically feel generous at year end? Taxpayers can transfer substantial amounts free of gift taxes to their children or other recipients each year through the proper
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value
If you’re interested in investing in tax-free municipal bonds, you may wonder if they really are free of taxes. While the investment generally provides tax-free interest on the
If you own a small business, you’re likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses. First, what
IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report, but that’s little consolation if your return is among those selected to be
You’ve probably heard about qualified tuition programs (also known as 529 plans) if you have children or grandchildren who will be attending college in the future. These plans,
Fall is officially here. So now is a good time to start taking steps that may lower your tax bill for this year and next. One of the
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