Top 6 Employee Benefit Plan Audit Findings and How to Address Them
An employee benefit plan audit is a crucial step in ensuring compliance with regulatory requirements and safeguarding the integrity of your company’s benefit plans. However, audits often uncover signi ...
Should You Keep or Discard Your Tax Records?
When it comes to managing personal finances, few topics cause as much confusion as whether to keep or discard tax records. While no one wants to be buried under piles of paperwork, throwing away impor ...
Does Your Business Need To Pay a Franchise Tax?
When starting or operating a business, taxes are a crucial consideration. One type of tax that businesses may be required to pay is the franchise tax. Understanding whether your business must pay this ...
Sole Proprietorship Taxes: An Overview and Walkthrough
A sole proprietorship is the simplest and most common form of business structure. However, when tax season arrives, sole proprietors must understand their obligations and how to properly file their ta ...
IRS Increase 2025 Standard Mileage Rate to 70 Cents Per Mile
The Internal Revenue Service (IRS) has announced that, effective January 1, 2025, the standard mileage rate for business use of a vehicle will increase to 70 cents per mile, up from 67 cents in 2024. ...
How Much to Estimate for Small Business Taxes?
a small business means wearing many hats, and one crucial responsibility is staying on top of your taxes. Estimating your small business taxes accurately can save you from unpleasant surprises. It can ...
How to Maximize Your Car Write-Offs: A Quick Guide to Claiming Vehicle Expenses
If you use your car for business, claim vehicle expenses that can save you significant money. Knowing how to properly claim and maximize these vehicle-related expenses is key. Continue reading to lear ...
How Does a Small Business Deduct Donated Services?
Small businesses can often find ways to give back to their communities, and one way to do this is by donating services. However, many business owners may wonder: Can we deduct donated services on our ...
What Happens If I’m Missing Business Receipts?
Receipts play a crucial role in tracking business expenses and ensuring you comply with tax laws. However, sometimes receipts go missing. Whether they’re lost, damaged, or never received in the first ...
What is the Employee Retention Credit 2024?
The Employee Retention Credit (ERC) is a refundable tax credit introduced as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020. It was designed to provide financial relief ...