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Learn how to use your Profit and Loss statement to make smarter decisions as your business grows.
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How Much Can You Contribute to Your Retirement Savings in 2025?

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

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Understanding the Nanny Tax: A Guide for Household Employers

Hiring household help, whether it’s a nanny, housekeeper or gardener, can significantly ease the burden of childcare and daily chores. However, as a

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You Don’t Have to be in Business to Deduct Certain Vehicle Expenses

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

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Building a Golden Nest Egg as a Self-Employed Professional

If you’re a small business owner with no employees (other than your spouse) and want to set up a retirement plan, consider a

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Maximize Year-End Giving with Gifts That Provide Tax Benefits

As the end of the year approaches, many people start to think about their finances and tax strategies. One effective way to reduce

The 2025 Social Security Wage Base Is Going Up

2025 Update: Social Security Wage Base Is Rising

As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced the wage base for

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