11.18.21
One-Time Thing: IRA to HSA Transfers
Did you know that you can transfer funds directly from your IRA to a Health Savings Account (HSA) without taxes or penalties? According to the…
11.18.21
Four Ways To Withdraw Cash From a Corporation
Owners of closely held corporations often want or need to withdraw cash from the business. The simplest way, of course, is to distribute the money…
11.12.21
Would You Like To Establish a Health Savings Account For Your Small Business?
With the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings…
11.9.21
Potential Tax Law Changes Hang Over Year-End Tax Planning for Individuals
As if another year of the COVID-19 pandemic wasn’t enough to produce an unusual landscape for year-end tax planning, Congress continues to negotiate the budget…
11.9.21
The Infrastructure Investment and Jobs Act Includes Tax-related Provisions You’ll Want To Know About
Almost three months after it passed the U.S. Senate, the U.S. House of Representatives has passed the Infrastructure Investment and Jobs Act (IIJA), better known…
11.4.21
Lessons Contractors Learned from the Pandemic
Due to the essential nature of its work, the construction industry was able to continue to operate during the COVID-19 pandemic. However, similar to the…
11.2.21
Follow the Cutoff Rules for Revenue and Expenses
Timing counts in financial reporting. Under the accrual method of accounting, the end of the accounting period serves as a strict “cutoff” for recognizing revenue…
11.2.21
Is the Research Credit Within Your Reach?
Many construction company owners might assume that a tax credit related to research and development is out of their reach. Au contraire — contractors can…
11.2.21
Put Some PEP in Your Step: A New Retirement Plan Option To Consider
For construction companies struggling to find skilled labor, a generous benefits package that includes a robust retirement plan can be a powerful recruiting tool. But…
11.1.21
Employers: The Social Security Wage Base Is Increasing in 2022
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $147,000 for 2022 (up from $142,800 for…