While the use of paper checks has greatly diminished, thieves still view them as a source for stealing revenue. In fact, the Financial Crimes Enforcement Network warns that many thieves are returning to old-fashioned financial theft, using paper...
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Are you in the process of starting a business or contemplating changing your business entity? If so, you’ll need to decide how to organize your company. Should you operate as a C corporation or as a pass-through entity such as a partnership...
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Many businesses use independent contractors to help keep their costs down and provide flexibility for short-term needs. But the question of whether a worker is an employee or an independent contractor is complex. Be careful that your independent...
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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...
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Did you recently file your 2023 tax return only to realize there was a mistake? Whether you filed on your own and made a calculation error, forgot to attach a necessary schedule, or just remembered some significant charitable donations from early...
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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.
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Retirement Saving Options for Your Small Business. There’s still time to see tax savings on your 2023 tax return by establishing and contributing to a 2023 SEP, right up to the extended due date of the return.
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QBI stands for “qualified business income,” a significant concept that could lead to tax deductions for certain small business owners or self-employed individuals. Enacted as part of the Tax Cuts and Jobs Act (TCJA) in 2017, the QBI...
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Advantages of forming a limited liability company (LLC) to protect your assets.
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