As 2022 winds down, now is the time for your business to take stock of its tax situation and implement year-end tax planning strategies.
How inflation will affect your 2022 and 2023 tax bills
Many people are feeling the squeeze of inflation. What does this mean for your federal tax bill? Here’s what the inflation-adjusted amounts will be for several provisions in 2023, as compared with 2022.
5 steps to take now to cut your 2022 tax liability
Are you interested in reducing your 2022 tax liability? There’s still time to take these year-end tax planning steps.
Reviewing 10 tax accounting methods for construction companies
Construction companies can use various accounting methods for tax-reporting purposes. Here’s a handy review of 10 of the most widely used approaches.
Plan now to make tax-smart year-end gifts to loved ones
As we head toward year end, many people are starting to plan to give gifts to their loved ones. Here’s how to avoid gift tax implications.
What do the 2023 cost-of-living adjustment numbers mean for you?
Don’t forget to factor 2023 cost-of-living adjustments into your year-end tax planning.
FLSA: Construction businesses must step carefully when hiring on-site labor
Construction business owners: Are those with hiring power at your company up to speed on the FLSA and its rules regarding employees vs. independent contractors?
Inflation Reduction Act expands deductions for energy-efficient construction
Can you benefit from the Inflation Reduction Act’s expansion of two tax incentives for energy-efficient construction of commercial and residential buildings? These are the Sec. 179D deduction and the Sec. 45L credit.
Year-end tax planning ideas for individuals
By planning ahead now, you may be able to save on your 2022 and 2023 tax bills. Here are some ideas to consider.