News

Document that says "SELF-EMPLOYMENT TAX"

For Small Businesses: A Refresher on Self-Employment Tax

December 12, 2024

You’re probably familiar with the self-employment tax if you own a business. Here’s a refresher on how it works, how it will increase and whether there’s anything you can do to reduce it.

For Small Businesses: A Guide to Business Travel Tax Deductions

December 12, 2024

If you’re a small business owner, you want to take full advantage of the tax deductions allowed for business travel. They can reduce your taxable income. Safe travels and happy deducting!

For Small Businesses: How to Build a Golden Nest Egg If You're Self-Employed

December 10, 2024

A solo 401(k) plan is a powerful retirement savings tool if you run a one-person small business. Here’s how you can help save for a golden future and reap tax advantages.

For Small Businesses: Retirement Savings Max Rising Slightly in 2025

December 10, 2024

The tax-advantaged retirement plan contribution amounts will increase less next year than in previous years due to easing inflation. However, many will still go up slightly. Find out how much you can contribute to 401(k)s, SEP plans, IRAs and more.

For Small Businesses: In 2025, the Social Security Wage Base Is Rising

October 22, 2024

Changes are coming to the Social Security system in 2025 in the form of a higher wage base. Next year’s threshold amount was recently announced by the Social Security Administration. Here’s the amount, along with what it means for your business.

For Small Businesses: How to Prepare For and Respond to an IRS Audit

October 21, 2024

What triggers an IRS audit and how can you prepare if your business is selected?

For Small Businesses: On Keeping Your Business Separate From Its Real Estate

October 21, 2024

It may be advantageous to separate ownership of a business’s real estate from the business. But it isn’t always advisable. Here’s a look at the issues.

Q4 2024 Tax Calendar, provided by NMS CPA, local Ohio CPA firm

For Small Businesses: 2024 Q4 Tax Calendar

October 8, 2024

Mark your calendar: It’s time for businesses to start thinking about the fourth quarter 2024 tax filing deadlines.

For Small Businesses: Do You Need to Report Employee Health Coverage?

October 8, 2024

Form 1095-C is filed with the IRS and given to full-time employees of “applicable large employers.” Which employers fall under this category, and what are their obligations?

Select a Category