Remember to use up your flexible spending account money
November 17, 2021
If you have a flexible spending account, you may want to schedule a trip to the dentist, buy new eyeglasses or have elective medical procedures performed. Here’s why.
Employers: The Social Security wage base is increasing in 2022
October 25, 2021
Business owners and their employees don’t have to pay Social Security tax on all their wages. Amounts above a certain threshold aren’t subject to Social Security tax. The “wage base” for 2022 was recently announced.
M&A transactions: Be careful when reporting to the IRS
September 28, 2021
Have you bought or sold business assets in an M&A deal in 2021 or are in the process of a transaction? If so, you must report the details to the IRS. The tax agency may then compare what both parties report to ensure they match.
Tax breaks to consider during National Small Business Week
September 14, 2021
Before Dec. 31, you may want to make some tax moves to save on 2021 taxes. Here are a few strategies.
Planning for year-end gifts with the gift tax annual exclusion
September 8, 2021
There have been proposals in Washington to reduce the estate and gift tax exemption amount, as well as make other changes to the estate tax laws. Making tax-free gifts by year end can reduce the size of your taxable estate and may be one way to recognize and address this potential threat.
Does your employer provide life insurance? Here are the tax consequences
August 25, 2021
Does your employer provide you with group term life insurance? Depending on the amount of coverage, it may add to your tax bill. Here are the rules.
