If your child is going to a summer day camp while you work, it may count as an expense toward the federal Child and Dependent Care Credit.
Combine a Business Outing with Tax Breaks
Summer is here, and you may be planning a picnic or other outing for your employees. When doing so, keep tax deductions in mind.
Tax-Advantaged Savings Accounts for People With Disabilities
Eligible individuals with disabilities and their family members can use Achieving a Better Life Experience (ABLE) accounts to pay for qualified expenses. These are savings or investment accounts that don’t affect eligibility for government assistance programs. Contributions aren’t tax deductible, but withdrawals used for qualified expenses are tax free, similar to 529 education savings plans.
Options for Paying Your Tax Bill
If you owe federal tax, you can typically use credit and debit cards to pay directly or through certain third-party apps. However, the number of cards you can use when submitting individual tax forms is generally limited to two per year or two per month (for details: Frequency limit table by type of tax payment | Internal Revenue Service ).
Stay Ahead of Business Cybercrime
Business owners, beware. Identity theft is a growing threat that can cripple your business or shut it down forever.
Questions About Taxes and Tips? Here Are Answers for Employers
Businesses in certain industries employ service workers who receive tips as a large part of their compensation. These businesses include restaurants, hotels, and salons. Compliance with federal and state tax regulations is vital if your business has employees who receive tips.
How to Manage Business Interest Expense Limits
Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), businesses were able to claim a tax deduction for most business-related interest expense. The TCJA created Section 163(j), which generally limits deductions of business interest, with certain exceptions.
Tips for Pain-Free Tax Filing
It’s time again to start thinking about getting your tax return prepared. Here are some quick tips you can use to help speed tax processing and avoid hassles.
Deduction vs. Credit
Many taxpayers are unclear on the difference between deductions and credits. Both can be powerful tax-saving tools. Here’s how they each work:
3 Ways Businesses Can Get More Bang for Their Marketing Bucks
Most small to midsize businesses today operate in tough, competitive environments. That means it’s imperative to identify and reach the right customers and prospects.
However, unlike large companies, your business probably doesn’t have a massive marketing department with seemingly limitless resources. You’ve got to pursue savvy campaigns while also controlling costs. Here are three fundamental ways to get more bang for your marketing bucks.