The general business credit (GBC) may help certain small businesses cut their federal income tax obligations significantly. This is an “umbrella” credit that encompasses various business-related […]
If you follow the news, you’ve probably heard a lot about artificial intelligence (AI) and how it’s slowly and steadily expanding into various aspects of […]
Once you’re married, you have two options when it comes to filing your annual federal income tax return — married filing jointly or married filing separately. […]
In general, organizations that qualify under Section 501(c)(3) of the tax code are exempt from paying federal income tax. However, some not-for-profits may seek to offset […]
You may already be familiar with artificial intelligence (AI) and even use it in business applications. What about generative AI (Gen AI)? Gen AI typically is […]
Business owners are commonly and rightfully urged to regularly generate financial statements in compliance with Generally Accepted Accounting Principles (GAAP). One reason why is external […]
If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum distribution (RMD) rules after […]
C corporation owners often need to take cash out of the business to pay personal expenses or to shield excess cash from creditors. Paying dividends is one […]
The head of household (HOH) federal tax filing status is often misunderstood by taxpayers who might qualify, including single, divorced or legally separated parents, and taxpayers […]
Open enrollment for most health care plans is many months away. That makes now a good time for businesses to consider changing their employer-sponsored coverage […]
