The Standard Business Mileage Rate Goes Up Slightly in 2024
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents […]
Court Awards and Out-of-Court Settlements May (or May Not) Be Taxed
Monetary awards and settlements are often provided for an array of reasons. For example, a person could receive compensatory and punitive damage payments […]
Fraud Prevention Strategies for Entrepreneurs and Small Businesses
Fraud occurs in companies of every size. But small businesses, especially new ones, have special risks because they generally can’t invest in expensive fraud-prevention programs. Thankfully, there […]
2024 Q1 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. Keep in mind that this list isn’t all-inclusive, […]
The “Nanny Tax” Must be Paid for Nannies and Other Household Workers
You may have heard of the “nanny tax.” But if you don’t employ a nanny, you may think it doesn’t apply to you. […]
Liquidation vs Going-Concern Value: What’s Right for a Distressed Business?
U.S. commercial bankruptcies surged in 2023, as businesses across many industries struggle with rising costs, a tight labor market, lackluster demand, economic uncertainty […]
Giving Gifts and Throwing Parties Can Help Show Gratitude and Provide Tax Breaks
During this holiday seasons, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday […]
A Company Car is a Valuable Perk But Don’t Forget About Taxes
One of the most appreciated fringe benefits for owners and employees of small businesses is the use of a company car. This perk […]
Are Vendors Cheating Your Company?
Every year, U.S. companies lose millions of dollars to vendor fraud. These schemes can be complex and usually involve collusion of multiple suppliers or suppliers and employees […]
Don’t Forget to Empty Out Your Flexible Spending Account
If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an important date coming up. […]
