Tax Planning

Saving for college: Tax breaks and strategies your family should know 

Large, calculator, shaped, like, a, graduation, cap, with, the, word, "TAX," displayed, on, its, screen. A, man, in, a, suit, leans, against, the, calculator, holding, a, large, pencil. To, the, right, the, word, "savings," is, written, in, cursive. The, background, is, a, beige, color, with, small, white, clouds, scattered, throughout.
January 10, 2025
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As higher education costs continue to rise, you may be concerned about how to save and pay for college. Fortunately, several tools and strategies offered in the U.S. tax code may help ease the financial burden. Below is an overview of some of the most beneficial tax breaks and planning options for funding your child’s […]
#529Plan, #CollegePlanning, #CoverdellESA, #EducationSavings
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Tax Planning

How Section 1231 gains and losses affect business asset sales

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January 7, 2025
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When selling business assets, understanding the tax implications is crucial. One area to focus on is Section 1231 of the Internal Revenue Code, which governs the treatment of gains and losses from the sale or exchange of certain business property. Business gain and loss tax basics The federal income tax character of gains and losses […]
#BusinessTaxPlanning, #CapitalGainsTax, #Section1231
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General

Understanding the Work Opportunity Tax Credit

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December 30, 2024
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According to the U.S. Bureau of Labor Statistics, the unemployment rate continues to be historically low, ranging from 4.0% to 4.3% from May to November of 2024. With today’s hiring challenges, business owners should be aware that the Work Opportunity Tax Credit (WOTC) is available to employers that hire workers from targeted groups who face […]
#HiringIncentives, #WorkOpportunityTaxCredit #WOTC #HiringIncentives#WorkOpportunityTaxCredit, #WOTC
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Financial Planning

Companies can shine a light on financial uncertainty with flash reports

two, individuals, on, a, sailboat, with, a, green, sail, bearing, a, dollar, sign,. One, steers, while, the, other, uses, a, telescope, symbolizing, navigating, financial, challenges, The, wavy, sea, and, distant, lighthouse, represent, uncertainty, and, guidance.
December 27, 2024
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Managing the financial performance of your business may sometimes seem like steering a ship through treacherous waters. Perhaps your voyage goes smoothly for a while until, quite suddenly, you hit a concerning dip or abrupt swell — either of which creates considerable operational pressure. Your financial statements should provide keen insights into how your company […]
#BusinessPerformance, #FinancialInsights, #FlashReports
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Tax Planning

Savings bonds and taxes: What you need to know 

Series I, Series EE, Dollar bill.
December 26, 2024
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When considering the advantages of U.S. Treasury savings bonds, you may appreciate their relative safety, simplicity and government backing. However, like all interest-bearing investments, savings bonds come with tax implications that are important to understand. Deferred interest Series EE Bonds dated May 2005 and after earn a fixed rate of interest. Bonds purchased between May […]
#InvestmentTips, #SavingsBonds, #SeriesEEBonds
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General

The tax treatment of intangible assets

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December 16, 2024
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Intangible assets, such as patents, trademarks, copyrights and goodwill, play a crucial role in today’s businesses. The tax treatment of these assets can be complex, but businesses need to understand the issues involved. Here are some answers to frequently asked questions. What are intangible assets? The term “intangibles” covers many items. Determining whether an acquired […]
#Assets, #Compliance, #Intangible, tax
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Technology

Businesses need to stay on top of their BYOD policies

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December 12, 2024
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In one way or another, most small to midsize businesses have addressed employees using personal devices for work. In 2022, online career platform Zippia reported that 83% of companies surveyed had a bring your own device (BYOD) policy “of some kind.” That percentage has likely increased as even more businesses have recognized the inherent risks involved. […]
#BusinessSecurity, #BYOD, #TechPolicy
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