Buying a new business vehicle? A heavy SUV is a tax-smart choice
March 3, 2023
If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this year than you’d get from a smaller vehicle. The reason has to do with how smaller business cars are depreciated for tax purposes. Depreciation rules Business cars are
Awarded money in a lawsuit or settlement? It’s only tax-free in certain circumstances
February 28, 2023
If you receive a personal injury settlement or award, do you have to pay tax on it? Here are the rules, along with court cases involving two taxpayers who had to pay tax on their settlements.
The three essential elements of taxable wages
February 27, 2023
Employers: Are you staying on top of your payroll tax obligations? Sometimes it helps to review the basics.
Have employees who receive tips? Here are the tax implications
February 24, 2023
Here are some tax tips for businesses with employees who receive tips.
Do you run a business from home? You may be able to deduct home office expenses
February 22, 2023
If you’re a business owner who works from home, you may be able to save tax with home office deductions. Here are the rules to qualify.
There still may be time to make an IRA contribution for last year
February 21, 2023
If you want to help ensure your financial security in retirement, saving now is one of the best moves you can make. If you qualify, you still have time to contribute to an IRA or SEP and save on your 2022 tax return.
