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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Tax Planning

Drive down your business taxes with local transportation cost deductions

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December 9, 2024
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Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely incur various local transportation expenses each year, and they have tax implications. Let’s start by defining “local transportation.” It refers to travel when you aren’t away from your tax home long enough to require […]
#businesstaxes, #cost, deductions
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Tax Planning

How inflation will affect your 2024 and 2025 tax bills

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November 27, 2024
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Inflation can have a significant impact on federal tax breaks. While recent inflation has come down since its peak in 2022, some tax amounts will still increase for 2025. The IRS recently announced next year’s inflation-adjusted amounts for several provisions. Here are the highlights. Standard deduction. What does an increased standard deduction mean for you? A […]
bills, Inflation, tax
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Tax Planning

When can you deduct business meals and entertainment?

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November 25, 2024
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You’re not alone if you’re confused about the federal tax treatment of business-related meal and entertainment expenses. The rules have changed in recent years. Let’s take a look at what you can deduct in 2024. Current law The Tax Cuts and Jobs Act eliminated deductions for most business-related entertainment expenses. That means, for example, that […]
deductions, entertainment, meals
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