10.23.23
The Deductibility of Medical Expenses
Individual taxpayers may be able to claim medical expense deductions on their tax returns. However, the rules can be challenging, and it can be difficult…
10.23.23
Do You Run a Business From Home?
The COVID-19 pandemic changed the landscape of work for a lot of people, as numerous business owners began working from their homes. Many are still…
10.16.23
Business Automobiles: How the Tax Depreciation Rules Work
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,…
9.28.23
Latest Update on Employee Retention Credits
As most business owners are aware at this point, the Employee Retention Credit (ERC) is a refundable tax credit for businesses that had employees and…
9.28.23
Using a Reverse Audit To Reveal Refund Opportunities
While most states offer sales and use tax exemptions for certain purchases by manufacturers, the details can vary from state to state. Manufacturers often overlook…
9.28.23
Understanding How Waste Impacts Your Bottom Line
The goal of profitable manufacturers is to make as many products with as few resources as possible. With the economy continuing its uncertain path, getting…
9.28.23
Manufacturers: Are You Making the Most of the General Business Credit?
Generally, tax credits are far more valuable than tax deductions. Unlike a deduction, which reduces a business’s taxable income, a credit reduces its tax liability…
9.27.23
Plan Ahead for Health Savings Accounts in 2024
The IRS has released guidance that includes the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). The benefits of HSAs include: contributions are made on…
9.27.23
IRS Delays SECURE 2.0 Roth Catch-Up Contribution Rule
The Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act, which was enacted in December 2022, is a game-changer in the world of retirement…
9.27.23
Safeguarding Your Critical Documents
So many of the documents we all use in our personal lives these days are digital. However, there are still many that you should retain…