Effective working capital management can make all the difference between success and failure in the business world. Learn how to measure and effectively manage your company’s working capital.
The tax treatment of business interest expense is governed by Section 163(j) which places limits on the amount of interest businesses can deduct on their tax returns based on their income and other factors. Unfortunately, the calculation for determining a company’s limit has changed starting with the tax year 2022 and stands to impact many large businesses negatively.
The SALT deduction has been a longstanding benefit for taxpayers who pay state and local taxes. However, recent limitations to the SALT deduction have left taxpayers in high-tax states looking for alternatives. One such option is the PTE tax election, which allows pass-through entities to pay and deduct state and local taxes on behalf of their owners.
The Tax Cuts and Jobs Act (TCJA) of 2017 made several sweeping changes to the tax code. However, many provisions were designed to be temporary and thus contained a “sunset” or expiration date. This article will review several provisions that have either recently expired or are scheduled to expire in the coming years.
On December 23, 2022, Congress passed the $1.7 trillion omnibus spending bill that contained several accounting and tax-related provisions, including the SECURE (Setting Every Community Up for Retirement Enhancement) 2.0 Act of 2022.
In this article, we will provide an overview of the benefit plan limits and thresholds for 2023, including updates to 401(k) plans, health savings accounts (HSAs), high-deductible health plans (HDHPs), flexible spending accounts (FSAs), and other miscellaneous benefits.
It’s important to correctly classify your workers as either employees or independent contractors. Incorrectly classifying workers can have serious legal and financial consequences. Learn about factors to consider when classifying your workers.
Do you own a successful small business with no employees and want to set up a retirement plan?
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments.
