Simplify Tax Season: Help Your CPA Help Your Business
As tax season begins, businesses are encouraged to take proactive steps to simplify the filing process, making it faster and more efficient for their CPA. Set Up Your IRS Online […]
Post Author: James Reynolds CPA
How HSAs Benefit Small Businesses and their Employees
As a small business owner, controlling healthcare expenses for both yourself and your employees can be tough. One effective strategy to consider is a Health Savings Account (HSA). HSAs provide […]
Prepare for 2025: Social Security Wage Base Set to Increase
As 2025 approaches, there are important changes to the Social Security wage base. The Social Security Administration recently announced that the wage base for calculating Social Security tax will increase […]
The Tax Advantages of Including Debt in a C Corporation Capital Structure
Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know that the federal […]
Should Your Business Offer the New Emergency Savings Accounts to Employees?
As part of the SECURE 2.0 law, there’s a new benefit option for employees facing emergencies. It’s called a pension-linked emergency savings account (PLESA) and the provision authorizing it became […]
Tax-Favored Qualified Small Business Corporation Status Could Help You Thrive
Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-Free Treatment for Eligible Stock Gains QSBCs are the same as garden-variety C corporations […]
Manufacturers: If Available, Take Advantage of Sales Tax Exemptions
Manufacturers must comply with all relevant tax laws to avoid dire consequences. While the most attention is generally directed toward federal income and payroll taxes, there’s another potential aspect to […]
Is Your Manufacturing Company Eligible for Clean Energy Tax Credits?
The Inflation Reduction Act (IRA), enacted in late 2022, provides valuable tax credits that support clean energy manufacturing. Significantly, the law created the Advanced Manufacturing Production Tax Credit (45X MPTC), […]
Take Advantage of the Rehabilitation Tax Credit When Altering or Adding to Business Space
If your business occupies substantial space in a certified historic structure and needs to increase or move from that space in the future, you should keep the rehabilitation tax credit […]
The Tax Advantages of Hiring Your Child This Summer
Summer is around the corner so you may be thinking about hiring young people at your small business. At the same time, you may have children looking to earn extra […]
Choosing an Entity for Your Business? How About an S Corporation?
If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form of business for your new venture. […]
7 Tax-Saving Opportunities for Manufacturers in 2023
After your manufacturing company’s 2022 tax return has been filed, you can focus your efforts on reducing its 2023 tax liability. What are the top tax-saving opportunities available to manufacturers […]
