How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80, the IRS recently announced cost-of-living adjustments that apply
Hiring household help, whether it’s a nanny, housekeeper or gardener, can significantly ease the burden of childcare and daily chores. However, as a household employer, it’s critical to
When you think about tax deductions for vehicle-related expenses, business driving may come to mind. However, businesses aren’t the only taxpayers allowed to deduct driving expenses on their
If you’re a small business owner with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is
As the end of the year approaches, many people start to think about their finances and tax strategies. One effective way to reduce potential estate taxes and show
As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced the wage base for computing Social Security tax will
Most small business owners panic when an IRS envelope arrives. Most of those envelopes are computer-generated notices that resolve by mail with documents. A small minority are actual
If you have a child or grandchild planning to attend college, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans allow prepayment of
Does your business require real estate for its operations? Or do you hold property titled under your business’s name? If so, you might want to consider this strategy.
The recent drop in interest rates has created some buzz in the real estate market. Potential homebuyers may now have an opportunity to attain their dreams of purchasing
Running a business with W-2 employees adds a whole layer of federal tax obligations that solo entrepreneurs do not face: payroll taxes, ACA health coverage reporting, worker classification
Fall is an ideal time to begin implementing strategies you could use to reduce your tax burden for both this year and next. One of the first planning
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