David Reape CPA Archives - HW&Co. CPAs and Advisors

Lower Business Taxes with Local Transportation Cost Deductions

By: David M. Reape

Understanding how to claim deductions for transportation costs can help lower your small business’s tax burden. Each year, you and your employees likely incur various local transportation expenses that carry […]

When Can You Deduct Business Meals and Entertainment?

By: David M. Reape

If you’re unsure about the current federal tax rules for business meals and entertainment expenses, you’re not alone. The rules have evolved in recent years. Here’s a breakdown of what’s […]

Understanding Self Employment Tax

By: David M. Reape

If you own a growing, unincorporated small business, you might find self-employment (SE) tax bills to be a significant concern. The SE tax ensures that Social Security and Medicare taxes […]

IRS Announces New Retirement Contribution Limits for 2025

By: David M. Reape

The IRS has set new contribution limits for retirement plans in 2025, raising the cap for 401(k) plans to $23,500, up from $23,000 in 2024. Here’s a quick overview of […]

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 […]

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 […]

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 […]

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 […]

Do You Need a Buy-Sell Agreement?

By: David M. Reape

Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement. A well-drafted […]

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