Tax, Accounting, and Business Insights

Starting January 1, 2024, you may be required to report information about the individuals who own or control your company to the U.S. Department of Treasury’s Financial Crimes Enforcement Network, also known as FinCEN.

While certain companies will be exempt from this reporting requirement, most businesses formed in the United States will have to submit this information on or before the deadline. It is VERY important that you understand the process — because the last thing anyone wants is the Department of Treasury coming after them! So let’s dive in.

As we come out of the pandemic, you may be traveling again for business. There are a number of rules for deducting business travel expenses. Here are some of them.

Now is the time to review annual payroll reporting requirements. In this post, we’ll cover 1099 reporting and fringe benefits.

Due to the rising cost of healthcare, your business may be interested in providing some of the benefits of a health savings account to their employees.

If you own a growing, unincorporated small business, you may be concerned about high self-employment tax bills. The SE tax is how Social Security and Medicare taxes are collected from self-employed individuals like you. Self-employment tax basics The maximum 15.3% self-employment tax rate hits the first $168,600 of your 2024 net SE income. The 15.3%

What are the rules for sales tax on construction labor and materials? Each state has their own laws when it comes to charging sales tax for construction services, including labor and materials. Proper sales tax compliance is incredibly important — otherwise, you could be facing steep fines. Let’s talk about how you can avoid those.

For small business owners with no employees (except a spouse) looking to establish a retirement plan, a solo 401(k) is worth considering. This option is also suitable for self-employed individuals or business owners wanting to upgrade from a SIMPLE IRA or SEP plan. A solo 401(k), also called an individual 401(k), may offer benefits in

As we near 2025, the Social Security wage base is set to change. The Social Security Administration has revealed that the wage base for calculating Social Security tax will rise to $176,100 in 2025 (up from $168,600 in 2024). Earnings and self-employment income above this threshold won’t be subject to Social Security tax. For businesses

Looking for funding to help you grow your new business? Maybe you need to invest in expensive equipment or need access to working capital to expand your current services. While an injection of cash can be helpful for accelerating growth, there are several important things to consider before taking out a startup business loan.

Does your business require real estate for its operations? Or do you hold property titled under your business’s name? It might be worth reconsidering this strategy. With long-term tax, liability and estate planning advantages, separating real estate ownership from the business may be a wise choice. How taxes affect a sale Businesses that are formed

Are you looking to sell a business or investment property that has gained value? One way to avoid a hefty capital gains tax is through a like-kind exchange.

What are the like-kind exchange rules? We’ve got a breakdown of those below.

Here are some of the key Q4 tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.