Forms W-2 and 1099-NEC Are Due To Be Filed Soon
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 must […]
Category: Tax
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 […]
Ohio’s TechCred Program Provides Technology Training Reimbursement
Ohio’s current TechCred Program application period for businesses opened January 3, 2023, and closes January 31, 2023, at 3:00 p.m. TechCred provides Ohio businesses with the opportunity to receive reimbursement […]
The Standard Business Mileage Rate is Going Up in 2023
Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an […]
Deferred Social Security Payments are Due 12/31/22
The IRS is reminding employers and those who are self-employed, who deferred paying part of their Social Security tax in 2020, that the second installment of that deferred amount is […]
2023 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may […]
Do You Qualify for the QBI Deduction? And Can You Do Anything by Year-End to Help Qualify?
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the […]
Choosing a Business Entity? Here Are the Pros and Cons of a C Corporation
If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing business […]
Intangible Assets: How Must the Costs Incurred Be Capitalized?
These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What Makes Intangibles So Complicated? IRS regulations require the capitalization of costs to: […]
Closing Your Business? Here are Your Final Tax Responsibilities
Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner’s retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If […]
Computer Software Costs: How Does Your Business Deduct Them?
These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells […]
2023 Limits for Businesses That Have an HSA — Or Want to Establish One
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored […]
