State and Local Tax Issues Businesses Should Consider
Did you know that state and local tax issues are a major aspect of a company’s tax liability? Similarly, so is economic nexus. Click here to read more about the top three tax-related issues that businesses should understand.State and local tax issues are a big part of a company’s tax liability. In fact, they are […]
QCDs: Tax-Free Gifts to Charity
How QCDs workHowever, IRA owners who are aged 70-1/2 and older can transfer up to $100,000 tax-free to one or more charities each year through QCDs. This provides a way for eligible older Americans to donate to charity before the end of the year and can be counted toward their RMD for the year if […]
IRS Clean Vehicle Tax Credit FAQs
So, what is the clean vehicle tax credit?For starters, the tax credit can reach upward of $7,500. The credit starts with a base value of $2,500 and increases by a total of $417 per kilowatt hour beyond five kilowatt hours, with up to $5,000 in addition to the base amount of $2,500. On average, the […]
5 Tips for Avoiding a Small-Business Audit
Track and record everything that you spend or receive throughout the yearPay attention to your cash flow, expenses and charitable giving. Make sure you store the information in one place, but keep personal and business expenses separate. This task is easier than ever before, thanks to technology. For example, QuickBooks is a popular small-business accounting […]
Small Businesses May Forgo Retirement Plans
Which companies are offering plans?Among Transamerica’s respondents surveyed in May, 58% of small businesses are making plans available, but that glass is only half full: 34% do not. Another survey, conducted by Capital Group, examines the smallest fry. In truly boutique operations, those with fewer than 10 employees, only 28% of those surveyed currently provide […]