by Sheri Hart | Dec 9, 2020 | Business Strategy, Small Business, Start-ups, Tax
The QBI deduction basics and a year-end tax tip that might help you qualify If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A...
by Sheri Hart | Oct 26, 2020 | Payroll, Small Business, Tax
If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing. The Social Security Administration recently announced that the maximum earnings subject to Social Security tax will increase from $137,700 in 2020 to...
by Sheri Hart | Oct 1, 2020 | Small Business, Tax
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all...
by Sheri Hart | Aug 26, 2020 | Business Strategy, Financial Planning, Payroll, Small Business, Tax
If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. PPP basics The Coronavirus Aid, Relief and Economic Security (CARES) Act,...
by Sheri Hart | Dec 17, 2019 | Business Strategy, Financial Planning, Small Business, Start-ups, Tax
Don’t let the holiday rush keep you from taking some important steps to reduce your 2019 tax liability. You still have time to execute a few strategies, including: 1. Buying assets.Thinking about purchasing new or used heavy vehicles, heavy equipment, machinery or...