Tag: Small Business Tax

The U.S. Bureau of Labor Statistics reports that unemployment is still very low, between 4.0% and 4.3% from May to November 2024. With hiring being difficult right now, business owners

Intangible assets, such as patents, trademarks, copyrights, and goodwill, play a crucial role in today’s businesses. Businesses need to understand the issues involved, despite the complex tax treatment of such

As the year draws to a close, it’s a critical time to evaluate planning strategies that may help reduce your tax liability for this year and next. Successful tax planning

To potentially reduce the tax burden on your small business, you need to understand how to deduct transportation costs. You and your employees likely incur various local transportation expenses each

If you’re a small business owner, managing health care costs for yourself and your employees can be challenging. Adding a Health Savings Account (HSA) can be one effective tool to

If you’re confused about the federal tax treatment of business-related meal and entertainment expenses, you’re not alone. The rules have changed in recent years. Let’s take a look at what

You may be concerned about high self-employment (SE) tax bills if you own a growing, unincorporated small business. The SE tax is how Social Security and Medicare taxes are collected

How much can you and your employees contribute to your 401(k)s or other retirement plans next year? The IRS recently announced cost-of-living adjustments, in Notice 2024-80, that apply to the

As a business owner, you may travel for a number of reasons, including to visit customers, attend conferences, check on vendors, and for other purposes. Understanding which travel expenses are

Consider a solo 401(k) plan if you own a small business with no employees (other than your spouse) and want to set up a retirement plan. This is also an