Building Retirement with a Solo 401(k) By: David M. Reape If you’re self-employed and operate a small business without any employees (other than your spouse), a solo 401(k) plan is a great option for establishing a retirement plan. This plan […]
FinCEN Extends BOI Reporting Deadline for Hurricane Victims By: Susan Kornatowski Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced that victims of Hurricanes Milton, Helene, Debby, Beryl, and Francine will have an additional six months to […]
Prepare for 2025: Social Security Wage Base Set to Increase By: James Reynolds As 2025 approaches, there are important changes to the Social Security wage base. The Social Security Administration recently announced that the wage base for calculating Social Security tax will increase […]
Beware of Charity Scams Following Natural Disasters Following natural disasters like Hurricanes Milton and Helene, many feel compelled to help those affected by donating to charities. Unfortunately, scammers often exploit this generosity by creating fraudulent organizations. The […]
Preparing for and Responding to an IRS Audit By: David M. Reape The IRS is ramping up its audit efforts, targeting large businesses and high-income individuals. By 2026, the agency plans to nearly triple its audit rates for large corporations with assets […]
Manufacturers: Start Year-End Tax Planning Now By: Cheryl Lanese As the year comes to a close, manufacturers have the opportunity to implement year-end tax planning strategies to help reduce their 2024 tax liability. Several provisions of the Tax Cuts […]
Benefits of Separating Business and Real Estate Ownership By: David M. Reape Does your business rely on real estate for operations, or do you currently hold property in your business’s name? It may be time to reconsider this approach. Separating the ownership […]
2024 Q4 Tax Deadlines: Key Filing Dates Every Business Must Know By: David M. Reape Below are some of the key tax deadlines that businesses and employers need to be aware of for the fourth quarter of 2024. However, note that this list is not […]
Do You Know When Your Nonprofit’s Debt-Financed Income is Subject to Tax? By: Helen Weeber If your nonprofit has investment income, dividends, interest, rents and annuities, they’re generally excluded when calculating unrelated business income tax (UBIT). However, income from debt-financed property typically is taxable. So […]
Taxes on Real Estate Gains By: Ed Decker Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect real estate […]
Business Taxation: What Lies Ahead? By: David M. Reape Get ready: The upcoming presidential and congressional elections may significantly alter the tax landscape for businesses in the United States. The reason has to do with a tax law that’s […]
Tax Responsibilities When Closing a Business By: David M. Reape While many facets of the economy have improved this year, many factors have caused businesses to close their doors. If this is your situation, we can help you, including taking […]