David Reape CPA Archives - Page 12 of 19 - HW&Co. CPAs and Advisors

2021 Q3 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 third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may […]

Recordkeeping DOs and DON’Ts for business meal and vehicle expenses

By: David M. Reape

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months […]

Hiring your minor children this summer? Reap tax and nontax benefits

By: David M. Reape

If you’re a business owner and you hire your children this summer, you can obtain tax breaks and other nontax benefits. The kids can gain on-the-job experience, spend time with […]

The IRS has announced 2022 amounts for Health Savings Accounts

By: David M. Reape

The IRS recently released guidance providing the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs). Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose […]

Help ensure the IRS doesn’t reclassify independent contractors as employees

By: David M. Reape

Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that these workers are properly classified for federal tax purposes. If the IRS […]

Providing education assistance to employees? Follow these rules

By: David M. Reape

Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up to $5,250 each year […]

Claiming the business energy credit for using alternative energy

By: David M. Reape

Are you wondering whether alternative energy technologies can help you manage energy costs in your business? If so, there’s a valuable federal income tax benefit (the business energy credit) that […]

Tax advantages of hiring your child at your small business

By: David M. Reape

As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Here are some considerations. Shifting business […]

ARPA: Unemployment Partially Excluded from Income for Some Taxpayers

By: David M. Reape

A little-reported provision of the American Rescue Plan Act of 2021 (ARPA) – Unemployment Benefits Received in 2020 May Be Partially Excluded from Income for Some Taxpayers Many Americans found […]

Business highlights in the new American Rescue Plan Act

By: David M. Reape

President Biden signed the $1.9 trillion American Rescue Plan Act (ARPA) on March 11. While the new law is best known for the provisions providing relief to individuals, there are […]

Launching a small business? Here are some tax considerations

By: David M. Reape

While many businesses have been forced to close due to the COVID-19 pandemic, some entrepreneurs have started new small businesses. Many of these people start out operating as sole proprietors. […]

Work Opportunity Tax Credit extended through 2025

By: David M. Reape

Are you a business owner thinking about hiring? Be aware that a recent law extended a tax credit for hiring individuals from one or more targeted groups. Employers can qualify […]

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