As the calendar turns toward a new year, it’s the perfect time to ensure your financial plans are as robust as your ambitions. A well-crafted financial strategy helps you navigate uncertainties, achieve your goals and create long-term stability. Here’s how… Read Now >>
The IRS has updated its tax rules for electric vehicles. There are four ways you can take advantage of a federal EV tax credit for qualified electric vehicles placed into service in 2023 or later: Purchase a new EV and… Read Now >>
If you have children who work in your business, you should consider offering them education fringe benefits. When you do this right, you can create some excellent tax deductions for your business while also providing tax-free education benefits for your… Read Now >>
Are you thinking about creating a company gym, fitness center or other athletic facility for your employees? It can be a great feature for a business campus. And, it is an excellent employee benefit to help with attracting and retaining… Read Now >>
Health Savings Accounts (HSAs) can be highly effective when you have a high-deductible health plan and significant medical expenses. In addition to helping cover medical costs, they can also function as an excellent retirement account because they have three unique… Read Now >>
If you bought, sold, donated or received a non-fungible token (NFT) in 2022, you must answer “yes” on the digital assets questions of your IRS Form 1040. You may also be liable for paying taxes or be able to claim… Read Now >>
When you open a bank account such as a checking or savings account, you may notice that the bank says they are FDIC-insured. It’s something a lot of people don’t even pay much attention to. However, it could ultimately make… Read Now >>
There have always been many questions surrounding tax deductions for business meals and entertainment. The past two years had very generous tax deductions thanks to President Biden’s Consolidated Appropriations Act of 2023. Businesses were able to deduct 100% of business-related… Read Now >>
Investing in real estate is generally a great long-term plan. The market has cooled off in most parts of the country, so good properties are available at attractive prices. However, taxes can be a major concern for C-corporations. Owning real… Read Now >>
If you have an IRA or other tax-deferred retirement account like a 401(k), you must start taking required minimum distributions (RMDs) once you reach a certain age. The SECURE 2.0 Act raises the age at which RMDs must first be… Read Now >>
Passive loss rules have been commonly misunderstood by rental property owners since they were first introduced in 1986. Today, we want to provide a better explanation of passive loss rules and how you can use the current tax laws to… Read Now >>