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For many businesses, technology has changed from something they use to something they do. When a company reaches a point where IT plays a central role in operations and productivity, ownership might want to create one or more leadership positions to specifically oversee...

While Congress didn’t pass the Build Back Better Act in 2021, there are still tax changes that may affect your tax situation for this year. That’s because some tax figures are adjusted annually for inflation. If you’re like most people, you’re probably more concerned about your...

If you’re an employer with a business where tipping is customary for providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Basics of the credit The FICA credit...

They say we live in an on-demand world. Right now, many business owners are demanding one thing: more workers. Unfortunately, the labor market is somewhat less than forthcoming. In the so-called “Great Resignation” of 2021, droves of people voluntarily left their jobs, and many...

You may pay out a bundle in out-of-pocket medical costs each year. But can you deduct them on your tax return? It’s possible but not easy. Medical expenses can be claimed as a deduction only to the extent your unreimbursed costs exceed 7.5% of your adjusted gross income. Plus,...

Do you want to sell commercial or investment real estate that has appreciated significantly? One way to defer a tax bill on the gain is with a Section 1031 “like-kind” exchange where you exchange the property rather than sell it. With real estate prices up in some markets (and...

Was your company’s strategic plan a smashing success in 2021? Look carefully at these three areas of the business to answer this question and develop objectives for 2022.

Many people have become gig workers to earn extra money through online platforms. Find out more about the tax implications of these jobs.

The price of gas is up about $1 a gallon from a year ago. How does this affect the amount your business can deduct for business driving in 2022?

As the year winds down, business owners have many calendar months to look back on to determine how successfully their products or services have sold. While reviewing the numbers, think about your people, too. To achieve success in 2022, you’ll need a strong sales team in place....