
Determining whether you need to file a gift tax return can be tricky
For 2020, the lifetime combined gift and estate tax exemption has reached a whopping $11.58 million ($23.16 million for married couples). As a result, under current law, few people will be subject to federal gift taxes. If your wealth is well within the exemption amount, does that mean there’s no need to file gift tax…
Read MoreBudgeting facts and tips for individuals
Infographic: Budgeting facts and tips for individuals.
Read MoreNew law provides a variety of tax breaks to businesses and employers
While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. The “Further Consolidated Appropriations Act, 2020” was signed into law on December 20, 2019. It makes many changes to the tax code, including an extension…
Read MoreBenchmarking financial performance
You already may have reviewed a preliminary draft of your company’s 2019 financial statements. But without a frame of reference, they don’t mean much. That’s why it’s important to compare your company’s performance over time and against competitors. Conduct a well-rounded evaluation A comprehensive benchmarking study requires calculating ratios that gauge the following five elements:…
Read MoreNew Year’s Eve can get expensive
Fun fact: Depending on your plans, New Year’s Eve can get expensive.
Read More2020 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements.
Read More3 last-minute tips that may help trim your tax bill
If you’re starting to fret about your 2019 tax bill, there’s good news — you may still have time to reduce your liability. Three strategies are available that may help you cut your taxes before year-end, including:
Read MoreNo Time for Wayfair Complacency
According to a recent survey of 1,150 accounting professionals, business owners are becoming increasingly more comfortable with the ramifications of Wayfair on their businesses compared to the first half of the year. However, they should not get complacent just yet. Even though the Wayfair ruling was made over a year ago, its continued effects on…
Read MoreDon’t let e-commerce fraud steal your holiday spirit
Infographic: How to be safe while shopping online this holiday season.
Read MoreSome SALTy Thoughts As We Get Ready For Thanksgiving Day Celebration With Family and Friends
As we approach the 2019 Holiday Season with Thanksgiving Day celebrations next week, the ever thoughtful and provocative tax experts at the Tax Foundation were considerate enough to release their 2020 State Business Tax Climate Index for all to consider. A quick read of the 2020 State…
Read MoreHow to keep track of small tools and equipment
Whether it’s hard hats and drills on a jobsite, iPads in an office or RFID readers in a warehouse, small tools and equipment have a tendency to disappear at many companies. The cost of lost, damaged and stolen items can quickly add up, consuming profits and cash flow. What can you do to manage these…
Read MoreSmall businesses: Get ready for your 1099-MISC reporting requirements
A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors and others. You may have to send 1099-MISC forms to those whom you pay nonemployee compensation, as well as file copies with the IRS. This task can be time consuming and…
Read MoreVeterans Are America’s Economic Weapon
Thank you to the men and women who have risked their lives fighting for this country. According to the Small Business Association, “veterans are at least 45% more likely than those with no military experience to be entrepreneurs.” For more business facts about veterans, check out our latest infographic.
Read MoreRecording: Fall 2019 State & Local Tax Update Webinar
MWE SALT Director Joseph Pizzimenti, Esq., talks about what’s hot in State and Local Taxes, Wayfair, and what to expect next. Find the webinar recording here.
Read More4 payroll management tips for growing companies
Infographic: How to head off payroll mistakes before they become major crises.
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