Understanding The Tax Benefits of Hiring Family Members
December 18, 2023
Running a business is challenging! There are many balls to juggle, and you need help, not just any help! You need to find someone who understands your goals for the business, is committed to the success of the business, and works as hard as you are in your business.
Changes Coming to Meal and Entertainment Expenses
December 05, 2023
The days of lavish spending and writing it off as an entertainment expense have already been impacted by reduced travel and entertainment (T&E) guideline spending at many corporations. New tax laws will impact these expenditures even more.
U.S. Citizens Abroad: Understanding Tax Benefits and Tests
November 28, 2023
If you are a U.S. citizen earning income in a foreign country, you may be required to pay taxes to the U.S. government and the country you work in. There are provisions to help mitigate this situation and reduce your U.S. tax liability. These benefits are based on meeting specific criteria related to your tax home, foreign earned income, and residency status in a foreign country.
Tax Planning: Maximizing Tax Savings with Qualified Opportunity Zones
November 15, 2023
The Tax Cuts and Jobs Act of 2017 introduced several changes to the United States tax code, affecting both businesses and individuals. One of the most innovative provisions was the creation of Qualified Opportunity Zones (QOZs).
Understanding Employer Tax Credit for Family and Medical Leave
November 09, 2023
The Consolidated Appropriations Act 2021 extends employer credit for paid family and medical leave through December 31, 2025. This tax credit encourages employers to provide their employees with paid family and medical leave. Under this provision, employers can claim a tax credit equal to a percentage of wages paid to qualifying employees while they are on family and medical leave.
Beware of the Latest Tax Scam: Employee Retention Tax Credit
November 06, 2023
The IRS wants you to know about the latest tax scam making headlines involving the Employee Retention Tax Credit (ERC), a pandemic-era tax break designed to assist qualified businesses.