Seasonal cash flow challenges are a common issue for small businesses, particularly those whose revenue fluctuates significantly throughout the year. In order to maintain financial stability and ensure long-term success, it’s paramount for these businesses to manage...
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It’s the Most Wonderful Time…To Review Business Expenses for Deductibility
As this year draws to a close, it’s wise to take the time to review your business expenses for deductibility in light of the changes made by the Tax Cuts and Jobs Act, which minimizes or omits many deductions. Below is an overview of these changes. While reviewing them, you may decide to revise your […]
This is How Retirement Contribution Limits Are Changing for 2019
The Treasury Department announced that retirement plan contribution limits are increasing in 2019 due to inflation. Get ready to save. The maximum pre-tax contribution limit for an Individual Retirement Account (IRA) is increasing for the first time since 2013: from $5,500 to $6,000. The extra $500 annual investment will compound over time, making this increase […]
IRS: Beware of Email Schemes this Tax Season
The Internal Revenue Service recently reported an approximate 400 percent surge in phishing and malware incidents so far this tax season. Taxpayers should beware of any emails claiming to come from the IRS, tax software companies or other tax providers. These fraudulent emails are designed to appear as though they come from the IRS or […]