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Navigating the maze of federal taxes can be daunting. Many tax terms are confusing, whether you're a business owner, a seasoned individual taxpayer or someone filing a tax return for the first time. To make matters worse, significant tax law changes may be on the horizon due to the upcoming election… Read more
Businesses are returning to their regular work premises in droves. About 65% of U.S. businesses expect to implement return-to-office policies by the end of 2024, in either a full-time or hybrid capacity, according to Resume Builder. As a result, your business may be making improvements to an…
The "kiddie tax" prevents parents from shifting income-producing assets to children to take advantage of their lower tax rate. It was introduced as part of the Tax Reform Act of 1986. Before this law, high-income parents and other family members could divert some investment income and gains to…
Running a business requires a lot of hard work. As a business owner, you may be so focused on managing day-to-day operations and pursuing growth opportunities that you put succession planning on the back burner. However, it's important to carve out time from your busy schedule to address creating a…
Although fewer paper checks are being issued now than in the past, old-fashioned paper checks remain the "go-to" payment method for many individuals and organizations. While checks may be convenient and familiar, fraud is a persistent problem. According to the Federal Reserve Bank of Boston, the…
The Tax Cuts and Jobs Act (TCJA) brought a significant, albeit delayed, change to the tax treatment of research and experimentation (R&E) costs under Internal Revenue Code Section 174. After the law was enacted, many tax experts mistakenly expected that Congress would intervene before the amendment…
This election season, the candidates are putting forth all sorts of tax proposals. One such proposal you may hear about is referred to as fair tax, also known as consumption tax. Here's what you should know to understand how fair tax proposals might play out.
Conservation easements can be an effective way for wealthy taxpayers to achieve their philanthropic goals while scoring lucrative tax deductions. Recent developments from the IRS, Congress and the courts could make some taxpayers hesitant to use conservation easements. However, these vehicles remain…