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July 6, 2024
Decoding Corporate Estimated Tax: Which Method is Best for You?

With the next quarterly estimated tax payment deadline coming up on September 16, it’s the perfect time to brush up on the rules for computing your corporate federal estimated payments. Ideally, your business can pay the minimum amount of estimated tax without triggering any penalties for underpayment.  But how do you determine that amount? To […]

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July 6, 2024
Tax Breaks for Family Caregivers: Are You Eligible?

Caring for an elderly relative is a privilege that offers many rewards: a deeper bond with your loved one, the knowledge that you are making an impact, and the peace of mind knowing they are in good hands. There are also potential tax benefits that can help lighten the load of caregiving.  1. Medical expenses. […]

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July 3, 2024
Planning For Foreign Assets in Your Estate

If you own foreign assets but haven’t included them in your estate plan, it’s time to revisit your plan. It’s possible to structure the ownership of your foreign assets according to the laws of the U.S. and the country where they’re located. But you probably should engage the help of an experienced estate planning advisor […]

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July 3, 2024
Is Switching to an S-Corp Right For You? A Tax Guide For Business Owners

The type of business you run (sole proprietorship, partnership, limited liability company or LLC, C corporation, or S corporation) can greatly impact your tax bill. Choosing the right one is important from the get-go, but you can switch from one entity to the other if it makes sense to maximize your tax benefits. For instance, […]

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July 2, 2024
Q3 Tax Deadlines for Businesses

Can you believe the third quarter is already here? We’ve compiled a list of key tax-related deadlines that might affect your business and employees to give you a leg up as we head into Q3. Keep in mind that this list isn’t all-inclusive and there could be other deadlines that apply to you.  July 15 […]

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June 26, 2024
Is Hiring Your Child For the Summer a Smart Tax Move?

School’s out, and that can mean opportunities for your business. If you have a child interested in your work, consider hiring them for the summer.  Not only does it give your son or daughter a great experience, but you can both reap the tax benefits too!  Benefits for Your Child Depending on your business structure, […]

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June 18, 2024
Boost Business Profits with These 4 Cost-Cutting Tips

While it’s common for businesses to be most concerned with the volume of sales, this is not necessarily the only, nor most reliable, way to raise profits. In fact, the cost of making a sale can sometimes lead to lower than expected net profits.  Business owners must consider their overall expenses, including cost per acquisition, […]

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June 9, 2024
What You Need to Know Before Turning Your Home Into a Rental

A great option for homebuyers can be to live in their new home and then turn their old house into a rental. As of March 2024, the Zumper National Rent Report found that average monthly rents for one- and two-bedroom apartments rose from $1,487 to $1,847. Of course, this varies depending on the part of […]

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June 9, 2024
Tax-Favored Retirement Plan Options for Business Owners

Does your business have a retirement plan? If not, it might be the right time to get one. Right now, retirement plan rules allow for significant tax-deductible contributions. If you’re self-employed and set up a SEP-IRA, for example, you could contribute up to 20% of your self-employment earnings with a maximum contribution of $69,000. (That’s […]

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