Buying a new business vehicle? A heavy SUV is a tax-smart choice
If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this year than you’d get from a smaller vehicle. The reason has to do with how smaller business cars are depreciated for tax purposes. Depreciation rules Business cars are […]
Supreme Court: Overtime rules still apply to highly compensated employees
If you were told someone earns more than $200,000 annually, you might assume the person is a salaried employee who’s ineligible for overtime pay. However, as demonstrated in the recent U.S. Supreme Court case of Helix Energy Solutions Group, Inc. v. Hewitt, this isn’t always a safe assumption. The FLSA rules Under the Fair Labor […]
Influencer marketing could help your business (or not)
Most companies today have some sort of presence on social media as part of their marketing efforts. If you’ve spent any time online as a business owner, you’d probably agree that building a following and getting meaningful reactions to your posts isn’t easy. One way that some companies rise above the din is to not only […]
How might the Internet of Things affect your business?
Once upon a time, there was the Internet. Relatively speaking, it was easy to understand. The Internet was (and is) a network on which any computer on the planet can communicate with other like-connected computers, enabling users to correspond and share files. But the Internet wasn’t (and isn’t) satisfied with only computers. It wanted to […]
Do you run a business from home? You may be able to deduct home office expenses
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re self-employed and run your business from home or perform certain functions there, you might be able to claim deductions for home office expenses against your […]
Awarded money in a lawsuit or settlement? It’s only tax-free in certain circumstances
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory awards and judgments for “personal physical injuries or physical sickness” are free from federal income tax under the tax code. This includes amounts received in a lawsuit or a settlement and […]
There still may be time to make an IRA contribution for last year
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re eligible, you can make a deductible contribution to a traditional IRA right up until this year’s April 18 filing deadline and benefit from the tax […]
Estate and Trust Tax Returns Services: CPA Firm
Navigating the intricacies of taxes, trusts and estates entangles even the most financially savvy of us. It can be hard to know where to start, so having a CPA on your side is helpful. Our firm provides full-service estate and trust tax return services – from preparation through IRS filing – so you don’t have […]
Top 5 Reasons to Join a Small Accounting Firm
Introduction When considering a career in accounting, many recent graduates and professionals may immediately think of big, well-established accounting firms. While these large firms can certainly offer a wide range of opportunities and resources, there are also many benefits to joining a smaller accounting firm. In this article, we’ll explore the top five reasons why […]
