by Admin | Dec 7, 2022 | Business Taxes, Entrepreneurial, Tax Planning
It is common practice this time of year for employers to give their employees gifts. Where a gift is infrequently offered and has a fair market value so low that it is impractical and unreasonable to account for it, the gift’s value would be treated as a de minimis...
by Admin | Nov 29, 2022 | Business Taxes, Entrepreneurial, Tax Planning
The new minimum wage in Virginia increases to $12 on Jan. 1, 2023. Unlike other states, Virginia does not exempt tipped workers from the state mandated minimum wage. Tipped employees (those who regularly receive more than $30.00 a month in tips) may be paid at the...
by Admin | Nov 27, 2022 | Business Taxes, Entrepreneurial
Along with the holidays comes a lot of extra work for many family-run businesses, which may require putting the kids to work and having a spouse help out over the busy time. There are special tax rules when hiring your children and also for your spouse, depending on...
by Admin | Nov 23, 2022 | Business Taxes, Entrepreneurial, Tax Planning
According to one recent study, there is a 96% chance that the United States will experience some form of economic recession within the next 12 months. If you needed a single statistic to underline the importance of planning ahead when it comes to your business, let it...
by Admin | Nov 3, 2022 | Business Taxes, Entrepreneurial
According to one recent study, there are currently more than 32 million small businesses operating in the United States. For the sake of discussion, know that this term refers to those organizations with fewer than 500 employees. To put that number into perspective,...
by Admin | Nov 1, 2022 | Business Taxes, Entrepreneurial
The Inflation Reduction Act that President Biden signed into law back in August, has a lesser-known provision that could benefit many small business startups, allowing them to potentially double the amount of the research and development tax credit they can claim from...
