Business owners and their employees may not have to pay Social Security tax on ALL of their wages. Amounts above a certain threshold aren’t subject to Social Security tax. Here’s how the 2023 “wage base” will affect your payroll. Continue Reading Employers: In 2023, the Social Security wage base is going up
As we head toward year end, many people are starting to plan to give gifts to their loved ones. Here’s how to avoid gift tax implications. Continue Reading Plan now to make tax-smart year-end gifts to loved ones
With the current federal estate tax exemption at $12.06 million, you may not be worried about estate taxes. But you should still think about saving income taxes for your heirs. Continue Reading Don’t forget income taxes when planning your estate
The Inflation Reduction Act’s Clean Vehicle Credit might alter the timing of purchasing a new or used qualifying electric vehicle. Learn why. Continue Reading Clean Vehicle Credit comes with caveats
New lease accounting rules go into effect this year for private companies and nonprofits. Related-party leases continue to be a sticking point, but help may be coming soon. Continue Reading FASB proposes last-minute changes to lease accounting rules