Staying compliant with payroll tax laws is crucial for small businesses. Mistakes can lead to fines, strained employee relationships and even legal … [Read more...]
Are you a tax-favored real estate professional?
April 2, 2025 by Mitch Gwost
For federal income tax purposes, the general rule is that rental real estate losses are passive activity losses (PALs). An individual taxpayer can generally … [Read more...]
Discover if you qualify for “head of household” tax filing status
April 1, 2025 by Mitchell Erickson
When we prepare your tax return, we’ll check one of the following filing statuses: single, married filing jointly, married filing separately, head of household … [Read more...]
Planning for the future: 5 business succession options and their tax implications
March 17, 2025 by Nate Gwost
When it’s time to consider your business’s future, succession planning can protect your legacy and successfully set up the next generation of leaders or owners. … [Read more...]
Riding the tax break train: Maximizing employee transportation fringe benefits
March 11, 2025 by Jeff Rislov
There are some nice tax breaks for transportation-related employee fringe benefits. If your employer offers these tax-favored fringes, you should probably take … [Read more...]
Savings bonds and taxes: What you need to know
March 6, 2025 by Thomas Stoeckman
When considering the advantages of U.S. Treasury savings bonds, you may appreciate their relative safety, simplicity and government backing. However, like all … [Read more...]
Ways to manage the limit on the business interest expense deduction
March 3, 2025 by Jordan Wrobleski
Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), businesses were able to claim a tax deduction for most business-related interest expense. The TCJA … [Read more...]
Are we permitted to ask applicants about their immigration status?
February 26, 2025 by Nicholle Peterson
No, you shouldn’t ask applicants about their immigration status—for example, whether they are a citizen, naturalized citizen, lawful permanent resident, or … [Read more...]
Can I itemize deductions on my tax return?
February 25, 2025 by Jon Hinderks
You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were told in the past they couldn’t be … [Read more...]
Questions about taxes and tips? Here are some answers for employers
February 24, 2025 by Tonya Raths
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants, hotels and … [Read more...]
