Technology

What every business owner should know about data hygiene

Chief,marketing,officer,in,asia,is,analyzing,the,company's,financial
September 30, 2025
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When you read the word “hygiene,” you may immediately think about the importance of washing your hands or brushing your teeth. But there’s another use of the term that every business owner should know: data hygiene. This refers to the ongoing process of ensuring that the information your company relies on is accurate, complete, consistent […]
#BusinessTechnology, #CleanData, #DataHygiene
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Tax Planning

Tax Court case provides lessons on best recordkeeping practices for businesses

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September 22, 2025
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Running a successful business requires more than delivering great products or services. Behind the scenes, meticulous recordkeeping plays a crucial role in financial health, compliance and tax savings. Good records can mean the difference between successfully defending a deduction and losing valuable tax breaks. A recent U.S. Tax Court decision underscores just how important this […]
#Recordkeeping, #TaxCourt, #TaxDeductions
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401(k) Plans

The power of catch-up retirement account contributions after 50

Catch-up, contributions, 401(k), 403(b), 457, IRA, Roth, IRA
September 17, 2025
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Are you age 50 or older? You’ve earned the right to supercharge your retirement savings with extra “catch-up” contributions to your tax-favored retirement account(s). And these contributions are more valuable than you may think. IRA contribution amounts For 2025, eligible taxpayers can make contributions to a traditional or Roth IRA of up to the lesser […]
#FinancialFreedom, #RetirementPlanning, #WealthBuilding
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Tax Planning

Receive $10,000 in cash at your business? The IRS wants to know about it

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September 15, 2025
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Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return. Here are some answers to questions you may have. What are the requirements? Although many cash transactions are legitimate, the IRS explains that the […]
#Form8300, #IRSCompliance, #TaxReporting
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Tax Planning

Run a business with your spouse? You may encounter unique tax issues

Asian,woman,and,multiethnic,man,as,business,couple,the,two
September 8, 2025
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Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless you can avoid that treatment. Otherwise, you must file an annual partnership return using Form 1065. […]
#SelfEmploymentTax, #TaxPlanning, #TaxSavings
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