by Lori Bowden | Jul 1, 2024 | Newsletter, Tax
Health Savings Accounts (HSAs) are tax-advantaged savings vehicles for funding health care expenses not covered by insurance. And for those in relatively good health, they also may serve as attractive retirement savings vehicles. To be eligible to contribute, an...
by Lori Bowden | Jun 4, 2024 | Business, Newsletter, Tax
Under the Corporate Transparency Act (CTA), many businesses are subject to new reporting requirements that went into effect on January 1, 2024. That means certain companies are required to provide information related to their “beneficial owners,” that is, the...
by Lori Bowden | Jun 3, 2024 | Newsletter, Tax
Among the many challenges of parenthood is childcare for kids when school lets out. Babysitters are one option, or you might consider sending them to a day camp. There’s no one-size-fits-all answer, but if you do choose a day camp, you could be eligible for a tax...
by Lori Bowden | Jun 2, 2024 | Business, Newsletter, Tax
If you check the Internal Revenue Code, you may be surprised to find that most business deductions aren’t specifically listed there. For example, the tax law doesn’t explicitly state that you can deduct office supplies and certain other expenses. Some expenses are...
by Lori Bowden | May 5, 2024 | Newsletter, Tax
If you employ a household worker who isn’t an independent contractor, you may be required to pay employment taxes on the worker’s cash wages. This is commonly referred to as the “nanny tax.” In 2024, when a household employee’s cash wages reach at least $2,700,...
by Lori Bowden | May 4, 2024 | Business, Newsletter, Tax
Every business wants to cut costs, but it isn’t easy. We’re talking about clear and substantial ways to lower expenses, thereby strengthening cash flow and giving you a better shot at strong profitability. Obvious places to slash costs (such as wages, benefits and...
