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...]
Can we have a mandatory retirement age?
April 2, 2025 by Nicholle Peterson
Can we have a mandatory retirement age? With a few exceptions, no, you can’t have a mandatory retirement age. Forcing an employee age 40 or older to retire at … [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...]
Deduct a loss from making a personal loan to a relative or friend
March 26, 2025 by Annette Benson
Suppose your adult child or friend needs to borrow money. Maybe it’s to buy a first home or address a cash flow problem. You may want to help by making a … [Read more...]
Do I need to do anything when employees come to me to vent?
March 26, 2025 by Nicholle Peterson
It depends on what they’re venting about. If they’re complaining about conduct that might be illegal, such as harassment or threats of violence, you’ll need to … [Read more...]
Beneficial ownership information (BOI) reporting requirements suspended for domestic reporting companies
March 18, 2025 by Mitchell Erickson
The twisty journey of the Corporate Transparency Act’s (CTA’s) beneficial ownership information (BOI) reporting requirements has taken yet another turn. … [Read more...]
Turning stock downturns into tax advantages
March 18, 2025 by Stacey Seviola
Have you ever invested in a company only to see its stock value plummet? (This may become relevant in light of recent market volatility.) While such an … [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...]
Encourage Breaks Away from Where People Work
March 13, 2025 by Nicholle Peterson
Falling prey to distractions could be a sign that one needs a break. Fact is, breaks boost productivity! We all need to rest and recharge during the day to do … [Read more...]
