Health care self-insurance and stop-loss coverage: What business owners need to know
For businesses, cost-effectively sponsoring a health insurance plan for employees is an ongoing battle. In the broadest sense, you have two options: f...
Watch out for “income in respect of a decedent” issues when receiving an inheritance
Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may turn out to be too goo...
When businesses may want to take a contrary approach with income and deductions
Businesses usually want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it wise...
Why some businesses choose to execute a pivot strategy
When you encounter the word “pivot,” you may think of a politician changing course on a certain issue or perhaps a group of friends trying to move a c...
If you follow the news, you’ve probably heard a lot about artificial intelligence (AI) and how it’s slowly and steadily expanding into various aspects...
The tax deadline is almost here: File for an extension if you’re not ready
The April 15 tax filing deadline is right around the corner. However, you might not be ready to file. Sometimes, it’s not possible to gather your tax...
2024 Q2 tax calendar: Key deadlines for businesses and employers
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind that this...
Business owners, your financial statements are trying to tell you something
Business owners are commonly and rightfully urged to regularly generate financial statements in compliance with Generally Accepted Accounting Principl...
Update on retirement account required minimum distributions
If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum distributi...
Coordinating Sec. 179 tax deductions with bonus depreciation
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in ac...