The Employee Retention Tax Credit (ERTC) is a valuable tax break that was extended and modified by the American Rescue Plan Act (ARPA), enacted in March of 2021. Here’s a rundown of the rules. Background… Read More »Eligible Businesses: Claim the Employee Retention Tax Credit

Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly… Read More »Are you a nonworking spouse? You may still be able to contribute to an IRA

As mitigation measures related to COVID-19 ease, it will be interesting to see which practices and regulatory changes taken in response to the pandemic remain in place long-term. One of them might be relief from… Read More »IRS extends administrative relief for 401(k) plans

As we continue to come out of the COVID-19 pandemic, you may be traveling again for business. Under tax law, there are a number of rules for deducting the cost of your out-of-town business travel… Read More »Traveling for business again? What can you deduct?

Married couples may not be able to save as much as they need for retirement when one spouse doesn’t work outside the home — perhaps so that spouse can take care of children or elderly… Read More »Are you a nonworking spouse? You may still be able to contribute to an IRA

Among the only certainties of business technology is that it will continue changing. One consequence of this is a regular need for companies to undertake IT projects such as developing custom software or upgrading network… Read More »Critical path method can propel IT projects

At many businesses, job descriptions have it easy. They were “hired” (that is, written) many years ago. They haven’t had to change or do anything, really, besides get copied and pasted into a want ad… Read More »Are your company’s job descriptions pulling their weight?

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2021. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply… Read More »2021 Q3 tax calendar: Key deadlines for businesses and other employers

Are you age 65 and older and have basic Medicare insurance? You may need to pay additional premiums to get the level of coverage you want. The premiums can be expensive, especially if you’re married… Read More »Seniors may be able to write off Medicare premiums on their tax returns

Most of us are taught from a young age never to assume anything. Why? Well, because when you assume, you make an … you probably know how the rest of the expression goes. A dangerous… Read More »Don’t assume your profitable company has strong cash flow

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing… Read More »Recordkeeping DOs and DON’Ts for business meal and vehicle expenses

If you’re a parent with a college-bound child, you may be concerned about being able to fund future tuition and other higher education costs. You want to take maximum advantage of tax benefits to minimize… Read More »Tax-favored ways to build up a college fund