Don’t Forget to Empty Out Your Flexible Spending Account
If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an important date coming up. You may have to use the money in [...]
4 Ideas That May Help Reduce Your 2023 Tax Bill
If you’re concerned about your 2023 tax bill, there may still be time to reduce it. Here are four quick strategies that may help you trim your taxes before year end. Accelerate deductions and/or defer [...]
Tech Tuesday: AI and ML- Transforming Small and Medium-Sized Businesses for Efficiency and Growth
Introduction For small and medium-sized businesses (SMBs), adopting Artificial Intelligence (AI) and Machine Learning (ML) is no longer a luxury but a necessity for staying competitive. These technologies offer a range of benefits, from automating [...]
Key 2024 Inflation-Adjusted Tax Parameters for Small Businesses and Their Owners
The IRS recently announced various inflation-adjusted federal income tax amounts. Here’s a rundown of the amounts that are most likely to affect small businesses and their owners. Rates and brackets If you run your business [...]
Key 2024 Inflation-Adjusted Tax Amounts for Individuals
The IRS recently announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers. Most of the federal income tax rate bracket thresholds are about 5.4% higher than for 2023. That means that you can [...]
Proactive Year-End Tax Planning: Navigating 2023’s Tax Landscape with Linkenheimer LLP
As the year winds down, businesses are presented with the critical task of year-end tax planning — a complex endeavor, especially with the ever-evolving tax regulations and economic climate of 2023. For savvy business owners, [...]
Month-End Close Checklist Guide for 2023
Month-End Close Reminders/Considerations Bank Reconciliation: Reconcile payroll bank accounts, credit cards, loans, and other Balance Sheet accounts to ensure accuracy. Accruals and Prepayments: Review and adjust any accrued liabilities or prepaid expenses. For Employers: Verify [...]
Year-End Checklist Guide for 2023
Year-End Close Reminders/Considerations As we wrap up the year, it is crucial to address several key financial and administrative tasks to ensure our records are accurate and complete. Below is our comprehensive checklist to guide [...]
Tech Tuesday: Microsoft Bookings- Leveraging Efficiency for Business and Clients
In the dynamic landscape of modern business, efficiency is not just a goal—it's a necessity. As companies strive to optimize their operations and enhance customer satisfaction, the demand for seamless organizational tools has become paramount. [...]
Choosing a Business Entity: Which Way To Go?
If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you operate as a C corporation or a pass-through entity such [...]