Business owners and their employees may not have to pay Social Security tax on ALL of their wages. Amounts above a certain threshold aren’t subject to Social Security tax. Here’s how the 2023 “wage base” will affect your payroll.
Your business may provide low- or no-cost tax-free fringe benefits to employees. Here are the details of these benefits, along with a court case in which an employee was found to have received a taxable benefit but he didn’t include its value in his income.
The price of gas is going up again in some parts of the country. That may affect the tax deductions for local transportation costs that your small business can claim. Here’s what you can write off.
Getting contacted by the IRS and told your tax return is being audited may cause business owners to panic. But you’ll fare better if you understand IRS audits.
Many small businesses are in need of new employees and may get creative in their hiring. The Work Opportunity Tax Credit can help if you hire from certain targeted groups.
Here are four categories of financial ratios that can help you make better, more-informed decisions about your company’s financial future.
New lease accounting rules go into effect this year for private companies and nonprofits. Related-party leases continue to be a sticking point, but help may be coming soon.
Statistical tools, like Benford’s Law, can help your auditors work smarter. But it’s important to recognize the limits of these tools.
If you want to know more about a specific account or nonfinancial matter, an agreed-upon procedures engagement may fit the bill.
Are you looking for a way to give your health care benefits a competitive edge? One idea to consider is adding an Excepted Benefit Health Reimbursement Arrangement to your existing coverage.
If significant growth is part of your company’s strategic plan for the coming year, be careful. Growing a business too quickly can lead to serious financial problems.
Identifying and executing the right M&A deal means gathering the right information at the right time. A quality of earnings report can be a strong addition to your due diligence documentation.
