Handle Your Nonprofit’s Restricted Gifts with Care

Restricted gifts generally require a higher level of care from not-for-profits that receive them. Continue Reading Handle Your Nonprofit’s Restricted Gifts with Care

Businesses with Employees Who Receive Tips May Be Eligible for a Tax Credit

Are you an employer who owns a business where tipping is customary for providing food and beverages? You may qualify for a valuable tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Continue Reading Businesses with Employees Who Receive Tips May Be Eligible for a Tax Credit

Will the Standard Business Mileage Rate Go Up in 2022? Yes!

The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2022 by 2.5 cents per mile. Continue Reading Will the Standard Business Mileage Rate Go Up in 2022? Yes!

2022 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

Here are a few key tax-related deadlines for businesses during Q1 of 2022. Continue Reading 2022 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers

Providing a Company Car? Here’s How Taxes Are Handled

The use of a company car is a valuable fringe benefit for business owners and key employees. This perk results in tax deductions for the employer and tax breaks for the owners and employees using the cars. Continue Reading Providing a Company Car? Here’s How Taxes Are Handled

taxes

How are Court Awards and Out-of-Court Settlements Taxed?

If you’re going to receive a personal injury or discrimination settlement or award, you want the best tax result possible. Here are the basic rules of when amounts are tax free or taxable. Continue Reading How are Court Awards and Out-of-Court Settlements Taxed?

business travel

The Tax Implications of Owning a Corporate Aircraft

Ever wonder how much of a tax break you’d get if you bought a private plane for your business? Here are the basic rules. Continue Reading The Tax Implications of Owning a Corporate Aircraft

United States Capitol

U.S. House Passes the Build Back Better Act

The U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213 on November 19. Continue Reading U.S. House Passes the Build Back Better Act

Businesses Can Show Appreciation — and Gain Tax Breaks — With Holiday Gifts and Parties

The holiday season is just around the corner. Your business may want to show its gratitude to employees and customers by giving gifts or hosting parties after a year of forgoing them due to the pandemic. Continue Reading Businesses Can Show Appreciation — and Gain Tax Breaks — With Holiday Gifts and Parties