If you run a business and utilize payment apps such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect for 2022. They don’t alter your tax liability, but…
Whether a business exit is decades in the future or just a few years away, planning for who will take over your company – and how – can be a process fraught with uncertainties. Some questions you…
Now that 2022 is up and running, business owners can expect to face a few challenges and tough choices as the year rolls along. No matter how busy things get, don’t forget about an easily accessible and…
Bringing up your next generation of leaders In a family business, bringing up the next generation of leaders can be a difficult and politically-charged endeavor. So it’s crucial to get it right if you want your business…
Why Is a Succession Plan So Important? Business leaders and owners typically are good at building their companies and realizing success in their positions and respective industry (ies), just as was envisioned at the startup stage. But…
If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your…
PREPARE YOUR BUSINESS WITH THESE TAX DEADLINES Below is a list of first quarter 2022 tax deadlines for business and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that…
Among the biggest long-term concerns of many business owners is succession planning — how to smoothly and safely transfer ownership and control of the company to the next generation. From a tax perspective, the optimal time to…
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has retroactively terminated it before it was scheduled to end. It now only applies through September 30,…
At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties again after a year of forgoing them due to the pandemic. It’s…
The end of the tax year is fast approaching for many businesses, but their ability to engage in traditional year-end tax planning may be hampered by the specter of looming tax legislation. The budget reconciliation bill, dubbed…
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 as the bipartisan infrastructure bill. While the bulk of the law is…
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