James Reynolds CPA Archives - HW&Co. CPAs and Advisors

How HSAs Benefit Small Businesses and their Employees

By: James Reynolds

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

By: James Reynolds

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

By: James Reynolds

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?

By: James Reynolds

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

By: James Reynolds

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

By: James Reynolds

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?

By: James Reynolds

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

By: James Reynolds

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

By: James Reynolds

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?

By: James Reynolds

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

By: James Reynolds

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 […]

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