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September 2023 News Letter Tax-Savings Tips

September 2023 News Letter Tax-Savings Tips

ICHRA Unleashed: Transforming Small Business Health Benefits The individual coverage health reimbursement arrangement (ICHRA) allows businesses of all sizes, from large corporations to small businesses like yours, to reimburse employees for their personally purchased...

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Strategic Insights for Employing Your Spouse

Strategic Insights for Employing Your Spouse

If you own your own business and operate as a sole proprietorship or partnership (wherein your spouse is not a partner), one of the smartest tax moves you can make is hiring your spouse to work as your employee. But the tax savings may be a mirage if you don’t pay...

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Tax-Savings Tips for Business Expenses in 2023

Tax-Savings Tips for Business Expenses in 2023

Know the $75 Rule for Business Expenses The $75 rule applies to certain business expenses where you do not need a receipt. But we emphasize that this rule does not apply to all tax deductions. Many taxpayers mistakenly apply the $75 rule to all their tax deductions,...

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March 2023 Tax-Saving Tips

March 2023 Tax-Saving Tips

2023 Health Insurance for S Corporation Owners: An Update Here’s an update on the latest developments in 2023 health insurance for S Corporation Owners. As a more-than-2-percent S Corporation Owner, you are entitled to some good news when it comes to your health...

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Tax-Saving Tips 2022 Year-End Edition

Tax-Saving Tips 2022 Year-End Edition

Last-Minute Year-End General Business Income Tax Deductions The purpose of this letter is to get the IRS to owe you money. Of course, the IRS will not likely cut you a check for this money (although, in the right circumstances, that will happen), but you’ll realize...

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April 2021 PPP Extended—Act Fast or Miss Out

April 2021 PPP Extended—Act Fast or Miss Out

This is likely it—your last chance to obtain first- and second-draw Paycheck Protection Program (PPP) monies.   A new law, the PPP Extension Act of 2021, extends the expiration date to the later of May 31 or when the money runs out. Note the phrase “when the...

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March 2021 COVID-19 Tax Relief Measures

March 2021 COVID-19 Tax Relief Measures

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) made many temporary changes in the tax law. The new Consolidated Appropriations Act (CAA) adjusted some of these and left others to die on December 31, 2020.   Below are insights into some of the...

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