If you made significant gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2024 gift tax return. And in some cases, even if it’s not required to file one, you may want to do so anyway....

You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were told in the past they couldn’t be claimed because you didn’t have enough deductions to itemize. How much do you need? You can itemize deductions...

If you’re getting ready to file your 2024 tax return and your tax bill is higher than you’d like, there may still be a chance to lower it. If you’re eligible, you can make a deductible contribution to a traditional IRA until this year’s April 15 filing deadline and...

Controlling costs is always at the forefront of manufacturers’ minds, but the current environment makes it particularly critical. With new tariffs going into effect and more being proposed by President Trump, imported goods that are vital to some manufacturers may...

Payroll is one of the biggest costs for most small to midsize employers. If this holds true for your organization, you may be looking at the year ahead with some measure of uncertainty. The Trump administration has stated that its priorities include using tariffs and...

Many construction businesses reach a point in their growth when they decide to maintain inventories. They might keep on hand items such as building materials, supplies, personal protective equipment and tools. Maybe yours already does. A construction company’s tax...

The purpose of the Family and Medical Leave Act (FMLA) is to protect eligible employees from job loss following specified family events and medical diagnoses. As an employer, you’re probably aware of the challenges that can arise when an employee requests FMLA leave....

Qualified employer-sponsored retirement plans have become a fundamental fringe benefit for many employers today. However, if your organization sponsors one, you know how complex administration and compliance can be. It’s not uncommon for plan sponsors (such as...

The IRS announced it will start the 2025 filing season for individual income tax returns on January 27. That’s when the agency began accepting and processing 2024 tax year returns. Even if you typically don’t file until much closer to the mid-April deadline (or you...