ARTICLES

Business party food & beverages may be 100% tax-deductible! Learn the rules for deducting business meals and entertainment expenses.

Boost employee benefits with 401(k)s, SEP-IRAs, or SIMPLE IRAs—each offers unique perks, limits, and tax advantages for growing businesses.

Self-employment tax is 15.3%, paid quarterly. Learn what to expect & consult a VAAS Tax Professional to manage taxes.

Deduct business travel costs like transport, lodging, and meals (50%) if necessary, reasonable, and documented. Rules vary; get advice!

Claim IRA tax credits: 30% for energy upgrades, $7,500 for EVs, $1,000 for chargers. Act by Dec. 31; changes may end these perks.

The 2025 Social Security wage base rises to $176,100. Prepare for payroll tax changes. Contact us for help with compliance and planning.

TCJA limits vehicle deductions however, self-employed CAN claim work miles, while others can only claim medical, charity, & military moves.

As 2024 comes to an end, consider tax free gifts to reduce taxes. Couples can give $36K ($18K for singles). 'Tis the gift giving season.

529 plans offer tax-free growth for education savings, covering K-12 and college costs. Withdrawals are tax-free for qualified expenses.

To deduct losses, you must prove your business is not a hobby. Profit intent must be shown through records, time, and expertise. Contact us

Separating real estate ownership from your business may reduce double taxation and boost asset protection. Contact us to learn more.

Draft partnership and LLC agreements to address key tax issues like guaranteed payments, partner liabilities, and retiree payouts. Read more

EAPs support employees’ mental health but may require ERISA, COBRA, HIPAA, or ACA compliance. Legal guidance helps ensure full compliance.

Remote work can cause double taxation and multi-state tax obligations. Employees and employers must be aware of these potential tax issues.

By 2026, the IRS plans to increase its audit efforts. Stay prepared with organized records and be ready to address any red flags.

Employers with 50+ full-time employees must file IRS Forms 1094-C and 1095-C to report health coverage and avoid ACA penalties. Contact us!

Partnerships and LLCs offer pass-through taxation, special allocations, and must plan for tax liabilities with proper agreements.

Your business may qualify for cash or accrual accounting. Each has benefits—contact us to find the best tax method for your situation!

Selling real estate? You may owe up to 25% in taxes, plus 3.8% NIIT. Rules are complex—contact us with questions and we'll guide you!

The 2024 elections could change U.S. business taxes as key parts of the TCJA expire in 2025. Stay informed on potential tax law updates.