Drive more savings to your business with the heavy SUV tax break
Are you considering replacing a car that you’re using in your business? There are several tax implications to keep in mind. A cap on deductions
Bill Fritts, Member of SEK, CPAs & Advisors Voted Best Accountant by Herald Mail Readers
FOR IMMEDIATE RELEASEDecember 11, 2020 Bill Fritts, Member of SEK, CPAs & Advisors Voted Best Accountant by Herald Mail Readers
Should you add a technology executive to your staff?
The COVID-19 pandemic and resulting economic impact have hurt many companies, especially small businesses. However, for others, the jarring challenges this year have created opportunities and accelerated changes that were probably going to occur all along.
Nonprofits: How to acknowledge donor gifts
Holiday-inspired generosity and the desire to reduce tax liability makes the end of the year a busy time for charitable giving. According to Network for Good and other sources, approximately 30% of charitable gifts are made in December alone.
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 deduction. The QBI deduction:
Review your estate plan in light of a new presidential administration
As President-elect Joe Biden moves forward with the transition and prepares for the inauguration next month, you may be wondering how the federal estate tax may be affected.
Steer clear of the wash sale rule if you’re selling stock by year end
Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run afoul of the “wash sale” rule. IRS may disallow the loss
Nonprofit boards must remain vigilant as long as the crisis continues
It’s been a tough year for not-for-profits. Many have experienced an increased demand for services just as revenues have plummeted. Until the COVID-19 pandemic is over, your organization’s board of directors will likely play a special role in ensuring that it remains on track financially.
5 Resolutions QuickBooks Online Users Should Make for 2021
New year, new challenges, and the potential for new successes. Here are five ways you can improve your financial management in 2021.
Small businesses: Cash in on depreciation tax savers
As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable property. If so, you may benefit from the Section 179 depreciation tax deduction for business property.