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The IRS is here to help military members and veterans with their unique tax needs

Members of the U.S. Armed Forces, veterans and their families may qualify for special tax benefits. Whether they have a simple or complex tax situation, the IRS provides information to make filing taxes easier to understand for those sacrificing so much for our country. Benefits for military members Some of the tax benefits for service…

Tax benefits for businesses that accommodate people with disabilities

Tax benefits for businesses that accommodate people with disabilities

Businesses that make structural adaptations or other accommodations for employees or customers with disabilities may be eligible to save money on their taxes. Here are the tax incentives for employers who provide accommodations for people with disabilities. Disabled Access Credit The Disabled Access Credit is a non-refundable credit for small businesses that have expenses for…

IRS increases 401(k) limit, keeps IRA limit the same

IRS increases 401(k) limit, keeps IRA limit the same

By Michael Cohen/Accountingtoday.com The Internal Revenue Service said Friday that the amount individuals can contribute to their 401(k) plans in 2025 has increased by $500 to $23,500, up from $23,000 for 2024, as part of its annual cost-of-living adjustments, although the limit for individual retirement accounts remains $7,000. The IRS issued technical guidance Friday on…

Cost-Saving Tips for Company Holiday Parties

Cost-Saving Tips for Company Holiday Parties

Just because you have to save money on a holiday party, doesn’t mean you can’t still create one that’s memorable and gives the impression that you pulled out all the stops. Several corporate event planners offered up these suggestions for creating a holiday party without dropping too much coin. Think outside the standard venue Getting…

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How To Grow Your Business Like Nobody Else: 5 Steps

Here are five straightforward recommendations for how to grow your business in the most effective manner: 1. Make Your Business Promotion More Extensive It is essential for you to broaden the scope of your business advertising in order to bring in new clients since this will allow you to grow your consumer base. You may…

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Reminder: Profits and Cash Flow Aren’t the Same

Profitable businesses often experience cash flow shortages, particularly if they’re experiencing rapid growth. Business owners may wonder why they owe taxes when they regularly struggle to find cash to cover their bills. The answer can be found by understanding the key differences between profits and cash flow. Operating activities  Profits are closely related to taxable…

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Disaster Relief: Contributions to Qualified Organizations are Tax Deductible

In light of the devastating destruction of Hurricane Helene and the pending catastrophic damage to come to Florida from Hurricane Milton, please be advised that monetary and goods donations are tax deductible. How to support hurricane relief efforts Before you donate, make sure you’re giving to a reputable organization and aren’t falling victim to a…

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Most taxpayers who requested an extension to file their 2023 tax return must file by Oct. 15

 The Oct. 15 extension deadline to file taxes is fast approaching. Most taxpayers who requested an extension of time to file their 2023 tax return must file by Tuesday, Oct. 15, to avoid the penalty for filing late. The IRS urges people to file electronically.Remember that an extension to file was not an extension to…

Hurricane Helene Assistance, Emergency Relief, and Disaster Assistance

Hurricane Helene Assistance, Emergency Relief, and Disaster Assistance

Apply for Assistance You can apply for assistance in three ways: online by visiting disasterassistance.gov call 800-621-3362. If you use a relay service, such as video relay service (VRS), captioned telephone service or others, give FEMA the number for that service. download the FEMA app Disaster tax relief includes the postponement of filing and payment…