Does your teenager have a part-time job or earn income from babysitting, yardwork or other self-employment? An IRA can provide an early start on decades of tax-advantaged saving.
Are your controls keeping pace with your fraud risks? Here’s how a forensic accountant can help reveal weaknesses that may leave your business vulnerable to fraud.
Choosing a business structure significantly affects how a start-up’s income is taxed and the level of personal liability owners may face. The One Big Beautiful Bill Act changed several federal income tax provisions that may influence this critical decision. We compare the two broad paths available: C corporations and pass-through entities.
Many parents and students focus only on the sticker price of higher education. But other elements come into play. This article looks at how financial aid — including loans, grants and scholarships — can lower the actual cost. A sidebar explores the American Opportunity Tax Credit and the Lifetime Learning Credit, which can help defray college costs.
Payroll tax compliance involves more than calculating paychecks. Learn which areas deserve closer attention and how to respond when something goes wrong.
Your financial statements tell your business’s story. An external audit can make that story more credible to stakeholders. Here’s why your business might need an audit and why it’s important to start preparing early.
If you work remotely and split your time between two states during the year, it can create state tax issues. Contact us to review your situation and help determine whether you may have tax obligations in more than one state.
When arranging gifts and bequests to loved ones, you may need to take the federal generation skipping tax into consideration. It can come into play in unexpected ways. Here are the current rules, along with some strategies to help minimize the tax liability when leaving large amounts to grandchildren, great grandchildren, or anyone else in those generations or below.
For contractors, getting paid shouldn’t be a major project. Yet delayed payments are a widely recognized problem that leaves many construction businesses struggling with slow cash flow. We discuss six ways to strengthen accounts receivable practices today to reduce slow-payment headaches tomorrow.
Tax credits are far more valuable than tax deductions. Unlike a deduction, which reduces a business’s taxable income, a credit reduces the business’s tax liability dollar for dollar. Credits aren’t unlimited, however. For businesses, the aggregate value of tax credits may be limited by the general business credit. This article explains how it works and lists specific credits it includes.
