by Joan Buchman Miller | Dec 27, 2021 | Accounting, employees, tax planning
After two years of no increases, 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. The IRS recently announced that the cents-per-mile rate for the business...
by Joan Buchman Miller | Dec 20, 2021 | 1099"s, Accounting, deadlines, employees, S Corporation, tax planning, W-2's
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all...
by Joan Buchman Miller | Dec 13, 2021 | Accounting, employees, tax planning
The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This perk results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefit...
by Joan Buchman Miller | Nov 22, 2021 | Accounting, deadlines, employees, tax planning
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers survive the COVID-19 pandemic. A new law has retroactively terminated it before it was scheduled to end. It now only applies through September 30, 2021 (rather than through...
by Joan Buchman Miller | Nov 17, 2021 | Accounting, C Corporation, employees, LLC, S Corporation, tax planning
With Thanksgiving just around the corner, the holiday season will soon be here. At this time of year, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties again after a year of forgoing them due to the...
by Joan Buchman Miller | Nov 2, 2021 | Accounting, employees, tax planning
With the increasing cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way to set aside funds...
