Current News

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 adjustments that apply to the dollar limitations for pensions, as well as other qualified retirement plans for 2023. The amounts increa...

Business owners are aware that the price of gas is historically high, which has made their vehicle costs soar. The average nationwide price of a gallon of unleaded regular gas on June 17 was $5, compared with $3.08 a year earlier, according to the AAA Gas Prices website. A gallon of diesel averaged ...

Does your business need real estate to conduct operations? Or does it hold property and put the title in its name? You may want to separate real estate ownership from the business. For example, C corporations treat real estate as they do other business assets. Expenses related to owning the assets a...

Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required range of income to be reported. Beginning this year, the threshold has dropped significantly for the filing of Form 1099-K, “Payment Card an...

IRS audit rates are historically low, according to a recent GAO report (https://bit.ly/3SLZ9Sb). That’s little consolation if your return is selected. But with proper preparation, you should fare well. It helps to know what might catch the attention of the IRS. For example, some audit “red flags...