Tax Archives - Page 17 of 31 - HW&Co. CPAs and Advisors

Would You Like to Establish a Health Savings Account for Your Small Business?

By: Mary Eileen Vitale CPA CFP AEP

With the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, […]

Employers: The Social Security Wage Base is Increasing in 2022

By: David M. Reape

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for 2021). Wages and self-employment income […]

Get Your Piece of the Depreciation Pie Now With a Cost Segregation Study

By: David M. Reape

If your business is depreciating over a 30-year period the entire cost of constructing the building that houses your operation, you should consider a cost segregation study. It might allow […]

New Per Diem Business Travel Rates Became Effective on October 1

By: David M. Reape

Are employees at your business traveling again after months of virtual meetings? In Notice 2021-52, the IRS announced the fiscal 2022 “per diem” travel rates that became effective October 1, […]

2021 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers

By: David M. Reape

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter (Q4) of 2021. Keep in mind that this list isn’t all-inclusive, so there […]

M&A transactions: Be careful when reporting to the IRS

By: David M. Reape

Low interest rates and other factors have caused global merger and acquisition (M&A) activity to reach new highs in 2021, according to Refinitiv, a provider of financial data. It reports […]

Tax depreciation rules for business automobiles

By: Kate Protsenko-Blake CPA

If you use an automobile in your trade or business, you may wonder how depreciation tax deductions are determined. The rules are complicated, and special limitations that apply to vehicles […]

Tax breaks to consider during National Small Business Week

By: David M. Reape

3 Tax Breaks The week of September 13-17 has been declared National Small Business Week by the Small Business Administration. To commemorate the week, here are three tax breaks to […]

Claiming a theft loss deduction if your business is the victim of embezzlement

By: David M. Reape

A business may be able to claim a federal income tax deduction for a theft loss. But does embezzlement count as theft? In most cases it does but you’ll have […]

Want to find out what IRS auditors know about your business industry?

By: David M. Reape

In order to prepare for a business audit, an IRS examiner generally does research about the specific industry and issues on the taxpayer’s return. Examiners may use IRS “Audit Techniques […]

Possible tax consequences of guaranteeing a loan to your corporation

By: Ed Decker

What if you decide to, or are asked to, guarantee a loan to your corporation? Before agreeing to act as a guarantor, endorser, or indemnitor of a debt obligation of […]

Large cash transactions with your business must be reported to the IRS

By: David M. Reape

If your business receives large amounts of cash or cash equivalents, you may be required to report these transactions to the IRS. What are the requirements? Each person who, in […]

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