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Changes in Sec. 174 make it a good time to review the R&E strategy of your business

It’s been years since the Tax Cuts and Jobs Act (TCJA) of 2017 was signed into law, but it’s still having an impact. Several provisions in the law have expired or will expire in the next few years. One provision that took effect last...
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Many tax limits affecting businesses have increased for 2023

An array of tax-related limits that affect businesses are indexed annually, and due to high inflation, many have increased more than usual for 2023. Here are...
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Hancock Askew Finds Key to Consistency, Scalability with ADP®

Our Client Accounting & Advisory Services (CAAS) Group Leaders, Kristen Brand and Rebecca Thiel, share with Accounting Today how a partnership with ADP® has allowed the...
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Employers should be wary of ERC claims that are too good to be true

The Employee Retention Credit (ERC) was a valuable tax credit that helped employers and kept workers on staff during the height of the COVID-19 pandemic. While...
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Do you qualify for the QBI deduction? And can you do anything by year-end to help qualify?

If you own a business, you may wonder if you’re eligible to take the qualified business income (QBI) deduction. Sometimes this is referred to as the pass-through deduction or the Section 199A deduction. The QBI deduction is: Taxpayers other than corporations may be entitled...
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Choosing a business entity? Here are the pros and cons of a C corporation

If you’re launching a new business venture, you’re probably wondering which form of business is most suitable. Here is a summary of the major advantages and...
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2023 limits for businesses that have HSAs — or want to establish them

No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits...
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Inflation means you and your employees can save more for retirement in 2023

How much can you and your employees contribute to your 401(k)s next year — or other retirement plans? In Notice 2022-55, the IRS recently announced cost-of-living...
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What local transportation costs can your business deduct?

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,...
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Separating your business from its real estate

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You...
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