Should your business add Roth contributions to its 401(k)?
If your business sponsors a 401(k) plan, you might someday consider adding designated Roth contributions. Here are some factors to explore when deciding...
25 February, 2021
Blog
If you run a business from home, you could qualify for home office deductions
During the COVID-19 pandemic, many people are working from home. If you’re self-employed and run your business from your home or perform certain...
23 February, 2021
Didn’t contribute to an IRA last year? There still may be time
If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be...
23 February, 2021
What are the tax implications of buying or selling a business?
Merger and acquisition activity in many industries slowed during 2020 due to COVID-19. But analysts expect it to improve in 2021 as the...
16 February, 2021
Did you make donations in 2020? There’s still time to get substantiation
If you’re like many Americans, letters from your favorite charities may be appearing in your mailbox acknowledging your 2020 donations. But what happens...
16 February, 2021
The many uses of a SWOT analysis
Using a strengths, weaknesses, opportunities and threats (SWOT) analysis to frame an important business decision is a long-standing recommended practice. But don’t overlook...
11 February, 2021
Many tax amounts affecting businesses have increased for 2021
A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same...
09 February, 2021
2021 individual taxes: Answers to your questions about limits
Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because...
09 February, 2021
The cents-per-mile rate for business miles decreases again for 2021
This year, the optional standard mileage rate used to calculate the deductible costs of operating an automobile for business decreased by one-and-one-half cents,...
02 February, 2021
The power of the tax credit for buying an electric vehicle
Although electric vehicles (or EVs) are a small percentage of the cars on the road today, they’re increasing in popularity all the time....
02 February, 2021