Tax Archives - Page 6 of 31 - HW&Co. CPAs and Advisors

New Per Diem Business Travel Rates Kicked In on October 1

By: David M. Reape

Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into reviewing business travel expenses. There may be […]

The Social Security Wage Base for Employees and Self-Employed People is Increasing in 2024

By: David M. Reape

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income […]

Business Automobiles: How the Tax Depreciation Rules Work

By: David M. Reape

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

How IRS Auditors Learn About Your Business Industry

By: David M. Reape

Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns by using IRS […]

What Types of Expenses Can’t Be Written Off by Your Business?

By: David M. Reape

If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax […]

2023 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 of 2023. Keep in mind that this list isn’t all-inclusive, so there may […]

It’s Important to Understand How Taxes Factor into an M&A Transaction

By: David M. Reape

In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how the […]

Sept. 15 Estimated Tax Payment Deadline

The Internal Revenue Service issued a press release reminding taxpayers who pay estimated taxes that the third quarter payment deadline is September 15, 2023. Taxpayers who are not required to […]

Update on Depreciating Business Assets

By: David M. Reape

The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. However, the amounts change every year due to inflation adjustments. And due to high inflation, the adjustments […]

Divorcing Business Owners Should Pay Attention to Tax Consequences

By: David M. Reape

If you’re getting a divorce, you know the process is generally filled with stress. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership […]

Education Assistance Programs Can Help Pay Workers’ Student Loans

The Internal Revenue Service issued a news release reminding employers and employees that employers with educational assistance programs can use them to help employees pay the principal and interest on qualified student loans, […]

House Bill 33 Amends the Commercial Activity Tax (CAT)

The newly enacted House Bill 33 amends Ohio’s Commercial Activity Tax (CAT) exemption amounts. Though still awaiting official guidance from the Ohio Department of Taxation (ODT), the Ohio Society of […]

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