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...
by Lori Bowden | May 3, 2024 | Newsletter, Tax
If you received a large refund this year, you may want to adjust your withholding. Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you...
by Lori Bowden | May 2, 2024 | Business, Newsletter, Tax
If you’re a small-business owner and you hire your children this summer, you may be able to secure tax breaks and other nontax benefits. The kids can gain bona fide on-the-job experience, save for college, and learn how to manage money. You may be able to shift some...
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...
