INSIGHTS
We See Things Differently
When we’re not addressing clients’ needs for business and financial advisory, assurance or tax matters, we’re researching, learning and thinking about related subjects. Check out some of our thinking on a broad variety of topics that may impact your organization. And if you’d like to learn more about any of these topics, we’re always happy to talk.
The Importance of Worker Classification for Businesses
If your business has engaged independent contractors to address your shifting staffing needs, you must ensure these workers are properly classified for federal tax purposes. Here is a breakdown of the main consequences your company could face if you misclassify workers.
What are the 2024 Tax Deadlines for Businesses?
Here are the 2023 tax deadlines for businesses you need to be aware of.
Is Tax Planning Worth It?
Tax Planning is an expense. How do you know if that expense is worth it for you? Check out our breakdown to see if it's right for you.
How Do I Start Tax Planning?
Tax planning is an excellent way to optimize your taxes. However, it is a complex process with moving pieces that keep changing. Here’s an overview of how to get started with tax planning.
VA Passes PTE Tax Election: What to Know
Starting this year, business owners of pass-through entities (PTEs) in the state can be taxed at the entity level, at a rate of 5.75 percent.
Hiring? You May Be Eligible for a Valuable Tax Credit, the WOTC
Business owners who need to hire should be aware of a valuable tax credit that’s available to employers hiring individuals from one or more targeted groups. The Work Opportunity Tax Credit (WOTC) is generally worth $2,400 for each eligible employee but can be worth more — in some cases much more. This article provides an overview of WOTC eligibility and potential tax savings.
Pump up tax savings with the fuel credit
Companies that wish to reduce their tax bills or increase their refunds shouldn’t overlook the fuel tax credit. Many businesses qualify for it and it’s relatively easy to calculate. This article explores the potential savings and how to go about claiming this often-overlooked tax break.
First-year bonus depreciation and Sec. 179 expensing: Watch out for the pitfalls
Many companies are eligible for tax write-offs for certain equipment purchases and building improvements. These write-offs can do wonders for a business’s cash flow, but whether to claim them isn’t always an easy decision. In some cases, there are advantages to the regular depreciation rules. This article reviews why it’s critical to look at the big picture and develop a strategy that aligns with a company’s overall tax planning objectives.
Should Your Business Be Worried About Quiet Quitting?
According to a recent survey conducted by Gallup, over half the U.S. workforce consists of quiet quitters.
How to Ask a Parent to Step Down from Leading the Family Business
There comes a time when the patriarch or matriarch of your family business is no longer the best fit to lead the organization. This can be a delicate topic, especially if your family member does not want to let go of their position. The path to successfully transitioning leadership starts with succession planning.
