Cybercrooks want your personal and financial data. You need to prevent them from getting it. That’s the message sent by the IRS when it reminded taxpayers to be vigilant this tax season. To prevent identity theft, be skeptical of texts and emails purporting to be from...
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...
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security tax The amount of an employee’s earnings that is subject...
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all...
Most optional standard mileage rates used to calculate the deductible costs of operating an automobile for various purposes have risen in 2022. As of Jan. 1, 2022, the standard mileage rate for vehicles (cars, vans, pickups and panel trucks) is 58.5 cents per mile...
“I’ll just write it off,” is one of the most common things to hear business owners say when it comes to expenses. But is that how it works? How do you know which expenses are eligible to be written off and how much are you supposed to write off? The answers to these...
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