by briesterer@thinkvisionary.com | Nov 2, 2022 | Business, Newsletter, Tax
Several end-of-year tax planning strategies are available to business owners to reduce their tax liability. Let’s take a look: Deferring Income Businesses using the cash method of accounting can defer income into 2023 by delaying end-of-year invoices so that...
by briesterer@thinkvisionary.com | Oct 4, 2022 | Business, Newsletter, Tax
Cash flow is the lifeblood of every small business but many business owners underestimate just how vital managing cash flow is to their business’s success. In fact, a healthy cash flow is more important than your business’s ability to deliver its goods and...
by briesterer@thinkvisionary.com | Sep 1, 2022 | Business, Newsletter
According to the US Small Business Administration, small businesses employ half of all private-sector employees in the United States. However, a majority of small businesses do not offer their workers retirement savings benefits. If you’re like many other small...
by briesterer@thinkvisionary.com | Sep 1, 2022 | Business, Newsletter
Small employer HRAs or QSEHRAs (Qualified Small Employer Health Reimbursement Arrangements) allow small businesses without group health plans to set aside money, tax-free, for employees to use toward medical expenses – including the cost of buying health insurance....
by briesterer@thinkvisionary.com | Sep 1, 2022 | Business, Newsletter, Tax
The Inflation Reduction Act (IRA), signed into law on August 16, 2022, includes provisions affecting businesses, individuals, the clean-energy industry, healthcare, and more. Let’s take a look: Businesses Sec. 461(l) Business Loss Limitation. The pass-through tax...
by briesterer@thinkvisionary.com | Jul 5, 2022 | Business, Newsletter, Tax
The optional standard mileage rate, which taxpayers may use to calculate the deductible costs of operating an automobile for business and certain other purposes, increases to 62.5 cents per mile, effective July 1, 2022. The new mileage rate is up 4 cents from the rate...