Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these benefits. Here are examples of… Read More »Providing fringe benefits to employees with no tax strings attached

If you’re interested in investing in tax-free municipal bonds, you may wonder if they’re really free of taxes. While the investment generally provides tax-free interest on the federal (and possibly state) level, there may be… Read More »Tax and other financial consequences of tax-free bonds

You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses. First, what is “local transportation?” It refers to travel in… Read More »What local transportation costs can your business deduct?

If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, named for the Internal Revenue Code… Read More »Investing in the future with a 529 education plan

IRS audit rates are historically low, according to a recent Government Accountability Office (GAO) report , but that’s little consolation if your return is among those selected to be examined. Plus, the IRS recently received… Read More »Worried about an IRS audit? Prepare in advance

Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first planning steps is to ascertain whether… Read More »Year-end tax planning ideas for individuals

Construction business owners know that cash is king. However, managing cash flow in an industry known for its ebbs and flows isn’t easy. And when you throw in the steady rise of inflation and ongoing… Read More »9 cash-flow management tips for construction companies

In today’s tough job market and economy, the Work Opportunity Tax Credit (WOTC) may help employers. Many business owners are hiring and should be aware that the WOTC is available to employers that hire workers… Read More »Work Opportunity Tax Credit provides help to employers

As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal estate tax. Before 2011, a much smaller amount resulted in estate… Read More »Don’t forget income taxes when planning your estate

Many contractors likely sat up and took notice in August when the Inflation Reduction Act (IRA) was signed into law. The IRA is expected to have a substantial impact on the construction industry, largely because… Read More »Construction industry awaits guidance on new energy tax incentives

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply… Read More »2022 Q4 tax calendar: Key deadlines for businesses and other employers

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You may want to rethink this approach. Any short-term benefits… Read More »Separating your business from its real estate