Blog2022-08-08T15:34:58-06:00

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Choosing a Business Entity Type

If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you operate as a C corporation or a pass-through entity such as a sole-proprietorship, partnership, limited liability company (LLC) or S corporation? There are many issues to

January 23rd, 2024|

2024 Inflation-Adjusted Tax Parameters for Small Businesses and Their Owners

The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners. Rates and Brackets If you run your business as a sole proprietorship or pass-through business entity (LLC, partnership or S corporation), the business’s

December 19th, 2023|

Use QuickBooks for 2024 Budgeting and Forecasting

As year end nears, many businesses and nonprofits are planning for 2024. QuickBooks® provides budget and forecast features to help management make financial predictions, as well as assess “what if” scenarios to help make more-informed business decisions. Here’s how you can use these tools for your year-end financial planning. Budgets

December 19th, 2023|

Holiday Giving: Use the Annual Gift Tax Exclusion and Reduce Your Taxable Estate

With the holidays approaching, you might be considering making gifts of stock or cash to family members and other loved ones. By using the annual gift tax exclusion, those gifts — within generous limits — can reduce your taxable estate. Indeed, in 2023, the annual gift exclusion amount is $17,000

December 12th, 2023|

FASB Approves Updated Rules for Disclosing Income Taxes

On August 30, 2023, the Financial Accounting Standards Board (FASB) unanimously voted to finalize its proposed improvements to the disclosure rules for income taxes. Here’s what’s changing and when those changes are effective. Rate Reconciliation Under the updated guidance, companies will be required to provide a breakout of amounts paid for

December 12th, 2023|
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