The Social Security Administration (SSA) recently announced that the "wage base" for computing Social Security tax will increase for 2023 to $160,200. This is up from $147,000 for 2022. Federal [...]
If you have a child or grandchild who’s going to attend college in the future, you’ve probably heard about qualified tuition programs, also known as 529 plans. These plans, [...]
In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last year. “The [...]
Want to enter a market quickly, expand market share, or acquire an established brand? The first phrase that comes to mind is mergers & acquisitions. That can be a quick [...]
Inflation has been surging this year. The July 2022 consumer price index (CPI) was up 8.5% year over year, according to the latest data from the U.S. Bureau of Labor [...]
The U.S. Department of Labor's Wage and Hour Division (WHD) recently released two Notices regarding the 2023 minimum wage rates that are going up for federal contractors. Contractor Minimum Wage Background [...]
Over the years, McDonald's has been able to sell hundreds of billions of hamburgers. The business started with a single drive-in burger stand started by two brothers in Southern California. [...]
Now that fall is officially here, it’s a good time to start taking steps that may lower your tax bill for this year and next. One of the first [...]
When it comes to due diligence procedures, much attention is focused on those who want to buy a business. But sellers must also conduct due diligence investigations and it's important [...]
High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of [...]
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may [...]
Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or [...]
If You Make Estimated Tax Payments, a Deadline Is Coming Up If you pay quarterly estimated taxes, circle this date on your calendar: September 15. That's the payment due [...]
In today’s tough economy, you may find yourself struggling to cover your day-to-day expenses. But rising interest rates are making traditional loans more expensive. In such an environment, you might [...]
Individual taxpayers who are unable to meet their tax obligations can try to resolve matters through the IRS's offer-in-compromise (OIC) program. However, the IRS can refuse such a request — [...]