Popping Open Some Fringe Benefit COLAs for 2023
The IRS released the 2023 cost-of-living adjustments (COLAs). These apply to a variety of tax-related limits applicable to many popular fringe benefits.
The IRS Plans on Targeting Abusive ERTC Claims
The ERTC provides refundable tax credits to employers that kept workers on payroll during the pandemic. This is a credit against the employer payroll taxes.
Tax Planning Issues You Should Consider at Year-End
Year-end is approaching as are the holidays. Before the seasonal celebrations, consider year-end tax planning moves to benefit you for both 2022 and 2023.
How to Treat Business Website Costs for Tax Purposes
These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on when business website costs can be deducted.
Employers: In 2023, the Social Security Wage Base Is Going Up
The Social Security Administration announced an increase in the Social Security wage base. It will increase to $160,200 in 2023 (up from $147,000 for 2022).
Research Credit Potentially Doubled by the Inflation Reduction Act
The Inflation Reduction Act could benefit small business startups. They can potentially double the amount of their research and development tax credit.
Stay on the Lookout for Presenteeism and Learn How to Avoid It
Employers should beware of presenteeism. Someone who repeatedly shows up unwell will accomplish less, produce substandard work, and cause other problems.