by Jackie Anthony | Dec 31, 2024 | Uncategorized
If you’re looking for a smart, tax-savvy way to save for medical expenses, Health Savings Accounts (HSAs) might be your new best friend. They’re like a supercharged savings account designed just for healthcare costs. But the real kicker? They come with triple tax...
by Jackie Anthony | Dec 24, 2024 | Accounting, Blog, Business Taxes, Small Business, Taxes, Virtual Bookkeeping
Let’s face it—the $10,000 SALT deduction cap introduced by the Tax Cuts and Jobs Act (TCJA) in 2017 has been a headache for small business owners, especially in high-tax states. That’s where the Pass-Through Entity Tax (PTET) comes in. Think of it as a clever...
by Jackie Anthony | Dec 17, 2024 | Accounting, Blog, Bookkeeping, Business Taxes, Small Business, Taxes
If you’re looking to reduce your federal tax bill before year-end, prepaying state and local taxes (SALT) can be a smart move – but only if you play by the rules. Here’s how a high level look at how this works and what you need to know. What is the SALT...
by Jackie Anthony | Dec 10, 2024 | Accounting, Blog, Bookkeeping, Business Taxes, Small Business, Taxes
For small businesses, making charitable contributions before year-end can help reduce taxable income, while also supporting causes that align with the company’s values. However, there are some rules and limits to keep in mind. Eligibility for Deductions C...
by Jackie Anthony | Dec 3, 2024 | Uncategorized, Accounting, Blog, Bookkeeping, Business Taxes, Small Business, Taxes
Contributing to retirement plans is one of the most effective ways to reduce taxable income while also building a strong financial foundation for the future. Here’s how you can maximize this strategy by year-end: Why Retirement Contributions Help: Contributions to...
