An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are some that may be important to you and your business. Social…
With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers is even closer. By January 31, 2023, employers must file these forms: Form W-2, Wage…
If you’re seeking opportunities to improve your company’s cash flow, consider a fixed asset or cost segregation study. Manufacturing is a capital-intensive industry, so it’s critical to ensure that fixed assets are classified properly to recover their…
PLAN FOR THESE 2023 TAX DEADLINES To help you make sure you don’t miss any important 2023 deadlines, we’ve provided this summary of when various tax-related forms, payments, and other actions are due. Please review the calendar…
Three key tax provisions you should know for 2023 Are you up to date on the latest tax law changes that could affect your manufacturing business? Barring further legislation, certain key provisions have expired or have begun…
Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up…
2023 Consolidated Appropriations Act: What You Need to Know On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes two important new laws that could affect your financial…
PREPARE YOUR BUSINESS WITH THESE Q1 2023 TAX DEADLINES Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that this list isn’t all-inclusive, so…
If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. QBI deduction defined The…
Can your business benefit from a C corporation? If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and disadvantages of doing…
These days, most businesses have some intangible assets. The tax treatment of these assets can be complex. What makes intangibles so complicated? IRS regulations require the capitalization of costs to: Acquire or create an intangible asset, Create…
As the end of the year approaches, there’s still time to make moves that may reduce your federal tax liability. Read on for some strategies to reduce your 2022 tax bill. Time your income and expenses When…
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