Healthy savings: How tax-smart HSAs can benefit your small business and employees
As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a Health Savings Account (HSA). HSAs offer a range of benefits that can help you save on health care expenses while providing valuable tax advantages. You may already have an […]
Understanding the Work Opportunity Tax Credit
According to the U.S. Bureau of Labor Statistics, the unemployment rate continues to be historically low, ranging from 4.0% to 4.3% from May to November of 2024. With today’s hiring challenges, business owners should be aware that the Work Opportunity Tax Credit (WOTC) is available to employers that hire workers from targeted groups who […]
Saving for college: Tax breaks and strategies your family should know
As higher education costs continue to rise, you may be concerned about how to save and pay for college. Fortunately, several tools and strategies offered in the U.S. tax code may help ease the financial burden. Below is an overview of some of the most beneficial tax breaks and planning options for funding your […]
Early bird tips: Answering your tax season questions
The IRS announced it will start the 2025 filing season for individual income tax returns on January 27. That’s when the agency began accepting and processing 2024 tax year returns. Even if you typically don’t file until much closer to the mid-April deadline (or you file for an extension), you may want to file […]
Embrace the future: Sales forecasting for businesses
So, how are sales looking for next year? It’s not a rhetorical question. Your business should be able to look ahead and accurately estimate how its future sales are shaping up. This practice is called sales forecasting, and doing it well is key to better managing your company’s financial performance. Why it’s important Formally […]
Simplifying Tax Returns in Indianapolis: A Guide by OnTarget CPA
Navigating the complexities of tax returns can be a daunting task for both individuals and business owners in Indianapolis. OnTarget CPA, a trusted provider of accounting, taxation, and consulting services, offers adept guidance to simplify your tax preparation process. This post outlines how OnTarget CPA can help you manage your tax returns effectively, ensuring compliance […]
Business owners: Be sure you’re properly classifying cash flows
Properly prepared financial statements provide a wealth of information about your company. But the operative words there are “properly prepared.” Classifying information accurately isn’t always easy — especially as the business grows and its financial transactions become more complex. Case in point: your statement of cash flows. Customarily, it shows the sources (money entering) and […]
Unlocking the mystery of taxes on employer-issued nonqualified stock options
Employee stock options remain a potentially valuable asset for employees who receive them. For example, many Silicon Valley millionaires got rich (or semi-rich) from exercising stock options when they worked for start-up companies or fast-growing enterprises. We’ll explain what you need to know about the federal income and employment tax rules for employer-issued nonqualified stock […]
Business Tax Preparation Services in Indianapolis: Get Ready for Tax Season
Business tax preparation services in Indianapolis are key to getting ready for tax season. As tax season approaches, business owners in Indianapolis can ease their tax-related stresses by engaging with professional business tax preparation services. OnTarget CPA, renowned for its meticulous and thorough approach to accounting and taxation, offers comprehensive tax services tailored to the […]
Prepping for Tax Season: Comprehensive Tax Preparation in Indianapolis
As tax season approaches, individuals and businesses in Indianapolis seek reliable guidance to navigate the complexities of tax preparation. OnTarget CPA, a distinguished accounting and consulting firm in the heart of Indianapolis, offers comprehensive tax preparation services tailored to meet the unique needs of its clients. This post explores how OnTarget CPA prepares its clients […]
