Key Tax Limit Changes for 2025
Each year, tax-related limits affecting businesses are adjusted for inflation. While many have increased for 2025, the rate of increase has slowed due to cooling inflation. Below are some key […]
Category: Private Business Advisory
Business Deadline: File W-2s and 1099-NECs by Jan 31
As the 2025 tax season begins, businesses must prepare for the upcoming deadline to submit certain information returns to the federal government and provide them to workers. By January 31, […]
Confused about the BOI Reporting Requirement?
Over the past few weeks, there has been a lot of back-and-forth drama surrounding the BOI reporting requirements. Here’s what you need to know: As of 1/24/2025, FinCEN confirmed it […]
Simplify Tax Season: Help Your CPA Help Your Business
As tax season begins, businesses are encouraged to take proactive steps to simplify the filing process, making it faster and more efficient for their CPA. Set Up Your IRS Online […]
How to Protect Yourself from Tax Season Scams
Remember: The IRS does not contact taxpayers by email, text messages, or social media channels to request personal or financial information. As tax season approaches, it’s important to stay alert […]
Protect your Business from Predatory Lenders
Whether you’re a budding entrepreneur seeking startup capital or an established business owner looking to fund an acquisition or expand your product lines, it’s essential to approach lenders cautiously. Scammers […]
Understanding Section 1231 Tax Impacts
Understanding the tax consequences when selling business assets is essential. One key area to focus on is Section 1231 of the Internal Revenue Code, which outlines how gains and losses […]
Navigating the Work Opportunity Tax Credit (WOTC)
The U.S. Bureau of Labor Statistics reports that unemployment rates remain historically low, fluctuating between 4.0% and 4.3% from May to November 2024. Amid current hiring challenges, the Work Opportunity […]
BOI Injunction Reinstated, Reporting Paused Again
For business owners, monitoring the rules for BOI reporting this month has been like watching a ping pong match. As of Friday, December 27, the requirement to file a beneficial […]
BOI Reporting Deadline Reinstated
On 12/23/24, the 5th Circuit Court of Appeals granted the government’s emergency motion to stay the nationwide injunction issued in the Texas Top Cop Shop case. This means that businesses […]
How HSAs Benefit Small Businesses and their Employees
As a small business owner, controlling healthcare expenses for both yourself and your employees can be tough. One effective strategy to consider is a Health Savings Account (HSA). HSAs provide […]
Nationwide Injunction Pauses BOI CTA Requirements
UPDATE: A Texas federal court issued a nationwide injunction temporarily halting the enforcement of the Corporate Transparency Act’s (CTA) beneficial ownership reporting requirements. This decision comes as a relief for […]
