Resources
December 2023 Newsletter
Featured Articles
Education Benefits Help Attract and Retain Employees While Saving Taxes
December 2023
Your business can attract and retain employees by providing education benefits that enable team members to improve their skills and gain additional knowledge, all on a tax-advantaged basis. Here's a closer look at some education benefits options.
Educational Assistance Program
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Self-Directed IRAs Provide Both Flexibility and Risk
December 2023
Traditional and Roth IRAs can be relatively “safe” retirement-saving vehicles, though, depending on what they're invested in, they limit your investment choices. For more flexibility in investment choices but also more risk, another option is a self-directed IRA.
Gaining More
Use the Tax Code to Make Business Losses Less Painful
December 2023
Whether you're operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset taxable income in future years, subject to certain limitations.
Qualifying
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
December 2023 Newsletter
Tax Tips
Upcoming Tax Due Dates
December 2023
December 15
Corporations - Deposit the fourth installment of estimated income tax for 2023. A worksheet, Form 1120-W, is available to help you estimate your tax for the year.
Employers- Social Security, Medicare, and withheld income tax. If the monthly deposit
Make 2023 Annual Exclusion Gifts by Dec. 31
December 2023
One of the most effective estate-tax-saving techniques is also one of the simplest: making use of the gift tax annual exclusion. It allows you to give to an unlimited number of family or friends cash or property valued up
Businesses Can Save Taxes by Acquiring and Placing Assets in Service by Year End
December 2023
Under Section 179 of the Internal Revenue Code, companies can “expense” the full cost of qualifying fixed assets to reduce their taxable income. This means they can deduct the purchase amount currently rather than having to depreciate the asset
3 Strategies for Estimated Tax Payments
December 2023
Many individuals today are self-employed or generate income from interest, rent, dividends and other sources. If you're in this situation, you could be risking penalties if you don't pay enough taxes during the year through estimated tax payments and
Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, we would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.
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