by Donald Bicking Jr. CPA, CTC | Nov 7, 2022 | Small Business
No one needs to remind business owners that the cost of employee health care benefits keeps going up. One way to provide some of these benefits is through an employer-sponsored Health Savings Account (HSA). For eligible individuals, an HSA offers a tax-advantaged way...
by Donald Bicking Jr. CPA, CTC | Oct 12, 2022 | Small Business
You and your small business are likely to incur a variety of local transportation costs each year. There are various tax implications for these expenses. First, what is “local transportation?” It refers to travel in which you aren’t away from your tax home (the city...
by Donald Bicking Jr. CPA, CTC | Sep 14, 2022 | Individual
In its latest report, the National Association of Realtors (NAR) announced that July 2022 existing home sales were down but prices were up nationwide, compared with last year. “The ongoing sales decline reflects the impact of the mortgage rate peak of 6% in early...
by Donald Bicking Jr. CPA, CTC | Aug 22, 2022 | Small Business
Do you own a successful small business with no employees and want to set up a retirement plan? Or do you want to upgrade from a SIMPLE IRA or Simplified Employee Pension (SEP) plan? Consider a solo 401(k) if you have healthy self-employment income and want to...
by Donald Bicking Jr. CPA, CTC | Jul 22, 2022 | Individual
If you’ve recently begun receiving disability income, you may wonder how it’s taxed. The answer is: It depends. The key issue is: Who paid for the benefit? If the income is paid directly to you by your employer, it’s taxable to you just as your ordinary salary would...
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