How Inflation Will Affect Your 2024 and 2025 Tax Bills
Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in…
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IRS Issues New Guidance on Transition Relief for Third-Party Settlement Organizations
On November 26, 2024, IR-2024-299 was issued by IRS – this notice provides guidance on transition relief for third-party settlement…
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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…
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The Amount You and Your Employees Can Save for Retirement Is Going Up Slightly in 2025
How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80,…
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The IRS Wants Taxpayers to Get an IP PIN for the 2025 Tax Season
The IRS issued a news release on Wednesday, October 23, that encouraged taxpayers to get an Identity Protection Personal Identification…
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The Nanny Tax: What Household Employers Need to Know
Hiring household help, whether you employ a nanny, housekeeper or gardener, can significantly ease the burden of childcare and daily…
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From Flights to Meals: A Guide to Business Travel Tax Deductions
As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding…
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FinCEN Publishes BOI Reporting Outreach and Education Toolkit
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued another resource to familiarize small business owners…
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Is Your Money-Losing Activity a Hobby or a Business?
Let’s say you have an unincorporated sideline activity that you consider a business. Perhaps you offer photography services, create custom…
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Advantages of Keeping Your Business Separate From Its Real Estate
Does your business require real estate for its operations? Or do you hold property titled under your business’s name? It…
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IRS Announces Hurricane Tax Relief for SC, NC, GA, and More
In the wake of Hurricane Helene, the IRS announced another piece of tax relief on October 1st, 2024. This applies…
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2024 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep…
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