Top of the News

Taking your spouse on a business trip? Can you write off the costs?

(Date posted: February 23, 2024)

A recent report shows that post-pandemic global business travel is going strong. The market reached $665.3 billion in 2022 and is estimated to hit $928.4 billion by 2030, according to a report from Research and Markets. If you own your own company and travel for business, you may wonder whether you can deduct the costs of having your spouse accompany you on trips.

Continue reading

If you didn’t contribute to an IRA last year, there’s still time

(Date posted: February 22, 2024)

If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher than you’d like, there might still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 15, 2024, filing date and benefit from the tax savings on your 2023 return.

Continue reading

What’s the best accounting method route for business tax purposes?

(Date posted: February 15, 2024)

Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes. The cash method often provides significant tax benefits for eligible businesses, though some may be better off using the accrual method. Thus, it may be prudent for your business to evaluate its method to ensure that it’s the most advantageous approach.

Continue reading

Get ready for the 2023 gift tax return deadline

(Date posted: February 13, 2024)

Did you make large gifts to your children, grandchildren or others last year? If so, it’s important to determine if you’re required to file a 2023 gift tax return. In some cases, it might be beneficial to file one — even if it’s not required.

Continue reading

Top of the News

Sign-up for our newsletters

Subscribe to RSS