by Monthly Newsletter | Sep 21, 2021 | Business Tips, IRS Taxes
You have lots of expenses when running a business. Are any of them deductible? To begin with, a deductible business expense must be both ordinary and necessary. An ordinary business expense is one that is common and accepted in your trade or business. A necessary...
by Monthly Newsletter | Aug 1, 2021 | IRS Taxes
As it does each year, the IRS has announced changes for health savings accounts, which are associated with high-deductible health plans. The figures for 2022: Self-only: $3,650 (a $50 increase from 2021). Family: $7,300 (a $100 increase from 2021). According to the...
by Monthly Newsletter | Jul 30, 2021 | IRS Taxes
If you have employees, you must deposit all the federal income tax you withhold from your employees (based on their W-4 forms), including both the employer and employee portions of Social Security and Medicare taxes. Based on your situation, you may have to make...
