by Lori Bowden | May 1, 2024 | Business, Newsletter, Tax
The Tax Relief for American Families and Workers Act of 2024 aims to restore the pre-Tax Cuts and Jobs Act R&D provisions. This adjustment will affect Section 41 Research & Development credit, as well as the timeline of receiving those expenses. Section 174...
by Lori Bowden | Apr 4, 2024 | Newsletter, Tax
Payable-on-death (POD) accounts can be a quick, simple, and inexpensive way to transfer assets outside of probate. They can be used for bank or credit union accounts, certificates of deposit, and even brokerage accounts. Setting up such an account is as easy as...
by Lori Bowden | Apr 3, 2024 | Business, Newsletter, Tax
Businesses shut down for many reasons. Examples include an owner’s retirement, a lease expiration, staffing shortages, partner conflicts, and increased supply costs. If you’ve decided to close your business, you might need assistance with some steps in the process,...
by Lori Bowden | Apr 2, 2024 | Business, Newsletter, Tax
If you own a C corporation, you know there’s a tax advantage to taking money out as compensation rather than as dividends. The reason: A corporation can deduct the salaries and bonuses that it pays executives, but it can’t deduct dividend payments. Therefore, if funds...
by Lori Bowden | Apr 1, 2024 | Business, Newsletter, Tax
Generally, the IRS has three years to audit a tax return, from the later of the due date of the return or the date you file. You can also file an amended return within this time frame if you overlooked something. Here’s what you need to know about keeping financial...
by Lori Bowden | Mar 11, 2024 | Business, Newsletter
Wessel & Company is proud to announce that they have been named among Pennsylvania Business Central’s Top 100 Organizations for 2024. The list was created by Pennsylvania Business Central’s 23-county coverage area and Wessel & Company were selected for their...
