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Blog Category: Business

Employee Retention Credits – Not Everyone Qualifies

The Employee Retention Credit (ERC) is a refundable payroll tax credit for employers that kept workers employed during COVID-19 pandemic while suffering significant gross receipt declines or being suspended under

Increased Standard Mileage Rate for 2023

Effective January 1, 2023, the IRS has issued its annual notice that updates the allowable 2023 standard mileage rates for business use of vehicles.  For 2023, the standard mileage rate

How to qualify for the QBI deduction and year-end strategies to maximize this deduction

As a business owner, you may have heard others mention QBI, Section 199A, or the pass-through deduction. These are all common ways to refer to the qualified business income (QBI)

Year End Strategies for Investors to Cut Taxes

During 2022, the stock market has been down, but there have been some bright spots along the way. As the year ends, you should consider making some moves to make

What the FTX Collapse Means for Future Tax Deductions

With the recent news of the crypto giant, FTX, filing for Chapter 11 bankruptcy, you may be left wondering what this means and whether you will be able to deduct

Wisconsin Tax Updates

As we head into the final weeks of 2022, there are a few Wisconsin tax updates to share.   Personal Tax Changes The WI personal capital loss deduction will increase

4 Tips for a Smooth Year-End

As you prepare to close your books for the end of the year, here are a few tips to guide you to a smooth landing on December 31st. 1. Gather

The facts about Tax-free bonds

Are Tax-free Bonds Really Free? Tax-free bonds are an attractive option for investing but are they really tax-free? There can still be a tax impact even if the bonds are

Offering Employee Fringe Benefits? Here’s what’s excludible from income.

Businesses can provide great benefit plans to employees that don’t cost them much or anything at all. Offering these benefits can be an effective way to recruit and retain top

IRS Warns Businesses to be Wary of ERC Scammers

Many businesses experienced financial hardship due to the COVID-19 pandemic. To incentivize employers who continued paying their employees during this trying period, the CARES Act introduced the “Employee Retention Credit”