2024 Annual Gift Tax Exclusion
How Much Can You Give as a Tax-Free Gift? As we navigate the complexities of financial planning and family support, it’s crucial to understand the…
New Reporting Requirement for 2024
FinCen Beneficial Ownership Reporting What is the Beneficial Ownership Information Reporting Rule? The upcoming implementation of the Financial Crimes Enforcement Network’s (FinCEN) Beneficial Ownership Information…
§179 vs. bonus depreciation
§179 vs. BONUS DEPRECIATION Either choice brings large deductions Eventually all business owners will need to purchase or replace assets. When this happens, they need…
Payroll tax deferral
PAYROLL TAX DEFERRAL What this means for you On Aug. 8, 2020, a Presidential Memorandum was issued allowing employers the option to defer withholding and…
Handling business losses
HANDLING BUSINESS LOSSES CARES Act eases the rules In 2017, the Tax Cuts and Jobs Act (TCJA) provided that net tax losses from businesses in…
Working from home?
WORKING FROM HOME? Know what’s deductible If you’re self-employed and use part of your home for business, you may be able to deduct expenses allocable…