Inflation Spikes Social Security for 2023

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 … [Read more...]

Benefits of an employer-sponsored HSA

No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an … [Read more...]

Inflation means you and your employees can save more for retirement in 2023

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced … [Read more...]

Act now to reduce your business’s 2022 tax bill

It’s been a tumultuous year for many businesses, and the current economic climate promises more uncertainty for the short term, if not longer. Regardless of how … [Read more...]

5 steps to take now to cut your 2022 tax liability

It has been quite a year — high inflation, rising interest rates and a bear stock market. While there’s not a lot you can do about any of these financial … [Read more...]

Estate planning vocab 101: Executor and trustee

Among the many decisions you’ll have to make as your estate plan is being drafted is who you will appoint as the executor of your estate and the trustee of your … [Read more...]

What do the 2023 cost-of-living adjustment numbers mean for you?

The IRS recently issued its 2023 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly this year, many amounts increased … [Read more...]

Calculating corporate estimated tax

The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for computing corporate … [Read more...]

Help when needed: Apply the research credit against payroll taxes

Here’s an interesting option if your small company or start-up business is planning to claim the research tax credit. Subject to limits, you can elect to apply … [Read more...]

How to Keep Your Tax Returns Safe from Ghosts

Taxpayers, beware! "Ghost" tax preparers are particularly active this time of year. These bad actors refuse to sign tax returns they've prepared because they … [Read more...]