Business Advisory

The IRS Has Just Announced 2024 Amounts for Health Savings Accounts

May 23, 2023

The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA fundamentals An HSA is a trust created or organized exclusively for the purpose of…

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Key Tax Issues in Merger and Acquisition (M&A) Transactions

April 27, 2023

Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value of M&A transactions in North America in 2022 was down…

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IRS Guidance Coming Regarding the IRA’s Clean Vehicle Credit

April 20, 2023

The Inflation Reduction Act (IRA) extended and expanded the Section 30D Clean Vehicle (CV) Credit, previously known as the Electric Vehicle (EV) Credit. The credit now covers “clean vehicles,” which include…

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Federal Tax News for Businesses

April 10, 2023

1. Businesses Targeted for Identity Theft The IRS is warning businesses that they may be prime targets for identity theft. How do you know if your company’s identity has been…

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2023 Q2 Tax Calendar: Key Deadlines for Businesses and Employers

March 17, 2023

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. Keep in mind that this list isn’t all-inclusive, so…

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How the New SECURE 2.0 Law May Affect Your Business

February 23, 2023

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…

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Providing Fringe Benefits to Employees with No Tax Strings Attached

February 1, 2023

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 of these…

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

January 27, 2023

With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers is even closer. By January 31, 2023, employers…

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Employers: In 2023, the Social Security Wage Base is Going Up

January 26, 2023

The Social Security Administration recently announced that 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 income…

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Federal Tax News for Businesses

January 18, 2023

1. Court: Farmers Are Partially Allowed Depreciation Write-offs If you’re a business owner hoping to deduct asset depreciation from your gross income, it’s crucial to track the percentage of business…

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