Are you feeling generous this year? Taxpayers can transfer large amounts free of gift taxes to loved ones each year with the proper use of the annual exclusion. For 2022, the exclusion amount is $16,000. The exclusion covers gifts that an individual makes to each recipient each year. So a taxpayer with three children can…
General
2022 – 11/02 – Reinforce your cybersecurity defenses regularly
Unlike the lock to a physical door, which generally protects property for a long time, a business’s cybersecurity measures need to be regularly updated and reinforced. Most cyberattacks fall into two categories: ransomware and social engineering. In a ransomware attack, hackers infiltrate a company’s computer network, encrypt or freeze critical data, and hold that data…
2022 – 11/09 – How should your marketing strategy change next year?
The U.S. economy has changed significantly this year. Your marketing strategy for 2023 should promote a business that’s nimbly adjusted to the playing field and can still offer customers great value. A good place to start is with your audience. Consider each prospect, customer or targeted group as an investment. Estimate your net profit after…
2022 – 11/16 – Like every business, a start-up needs a sensible budget
Per the U.S. Census Bureau, more than 430,000 new business applications for tax identification numbers were submitted in October 2022. One thing that every new company needs, along with a business plan, is a sensible budget. For the first year of operation, entrepreneurs can create one by forecasting the monthly numbers that will likely be…
Numerous tax limits affecting businesses have increased for 2022
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security tax The amount of an employee’s earnings that is subject to Social Security tax is capped for 2022 at…
2022 Q1 tax calendar: Key deadlines for businesses and other employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. January…
