Big goals for 2023 and growing your business? Executing change and scaling a mountain can feel very much the same: insurmountable. Each task though can be accomplished with specific steps, sometimes small, that create a clear path to the summit. The key is...
Also called IRS Code Section 280A, the Augusta Rule is a great tax tool for business owners that allows you to rent your home back to your business for up to 14 days in a calendar year. Essentially, that amounts to tax-free income for you as the homeowner/business...
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $160,200 for 2023 (up from $147,000 for 2022). Wages and self-employment income above this threshold aren’t subject to Social Security tax....
Businesses can provide benefits to employees that don’t cost them much or anything at all. However, in some cases, employees may have to pay tax on the value of these benefits. Here are examples of two types of benefits which employees generally can exclude from...
By Julie Smith, Practice Manager for Harper & Company CPAs Plus The talent shortage is the talk of the profession. And, it isn’t going away anytime soon. We needed a way to elevate our accountants to spend their time on higher value advisory conversations with...
You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses. First, what is “local transportation?” It refers to travel in which you aren’t away from your tax home (the city...
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