Many Tax Limits Affecting Businesses Have Increased for 2023

Many Tax Limits Affecting Businesses Have Increased for 2023

A variety of tax-related limits affecting businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be important to you and your business. Social Security tax The amount of employees’ earnings that...
Forms W-2 and 1099-NEC Are Due to be Filed Soon

Forms W-2 and 1099-NEC Are Due to be Filed Soon

The 2023 filing season deadline is drawing near, but you should also be aware the deadline for businesses to file information returns for hired workers is even closer. Employers must file these forms by January 31, 2023: Form W-2, Wage and Tax Statement. W-2 forms...
How the New SECURE 2.0 Law May Affect Your Business

How the New SECURE 2.0 Law May Affect Your Business

If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over...
Tax-Wise Ways to Save for College

Tax-Wise Ways to Save for College

If you’re a parent or grandparent with college-bound children, you may want to save to fund future education costs. Here are several approaches to take maximum advantage of the tax-favored ways to save that may be available to you. Savings bonds Series EE U.S. savings...