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If You're 73 or Older, Time is Running Out to Take This Year's Required Minimum Distributions from Retirement Plans.
RMDs are subject to a 25% excise tax on the amount the taxpayer should have withdrawn if not withdrawn on time.
Drive Down Your Business Taxes with Local Transportation Cost Deductions
The average price of gas is down more than 20 cents per gallon from a year ago. That may affect the tax deductions for local transportation costs that your business can claim for 2024. Here’s what you can write off.
Federal Court Rules Against DOL’s “White Collar” Overtime Rule
A federal court has struck down a new rule regarding the salary threshold for determining whether employees are exempt from federal overtime pay requirements.
Beginning in 2024, Eligible Senior Taxpayers May Donate More from Their IRAs with Qualified Charitable Distributions (QCDs).
Owners or beneficiaries of IRAs who are 70½ or older can make QCDs directly to IRS-approved charities.
Indiana's New Sales Tax Exemption for Restaurant Utilities - Effective Jan. 1, 2025
Starting January 1, 2025, Indiana restaurants may be able to claim a 50% sales tax exemption on electricity usage without conducting a utility study. Here's more information.
How Inflation Will Affect Your 2024 and 2025 Tax Bills
Inflation has slowed down considerably in the last couple of years. What does this mean for your federal tax bill? Here are the inflation-adjusted amounts for several provisions in 2025, compared to 2024.
Is Your HIPAA Compliance at Risk with Windows 10 Reaching End of Life?
Technology evolves quickly, and staying HIPAA compliant amidst these changes can be challenging. Microsoft has announced that Windows 10 will reach End of Life (EOL) on October 14, 2025. Once software becomes EOL, it no longer receives security updates, leaving it non-compliant with HIPAA regulations.
Healthy Savings: How Tax-smart HSAs Can Benefit Your Small Business and Employees
Health Savings Accounts allow you and your employees to set aside money on a pre-tax basis to pay for qualified medical expenses. Here’s a look at what an HSA could mean for your business, as well as the inflation-adjusted amounts for 2024 and 2025.
Should a Married Couple Use a Joint Trust or Separate Trusts?
For a married couple, are two revocable trusts better than a joint revocable trust?
Many Companies Created or Registered to Do Business Before Jan. 1, 2024, Must File Their BOI Reports by Jan. 1, 2025.
New business BOI Reports are due by Jan. 1, 2025, have you filed yours?
Federal Court Overturns Rule Increasing Salary Threshold for Overtime Exemption
A Texas federal court has invalidated a final rule that aimed to raise the minimum salary threshold for overtime exemptions. Here's more information.
Business Owners: Be Sure You’re Properly Classifying Cash Flows
Business owners: Is there room for improvement in your statement of cash flows? There might be, specifically in how you classify different types of transactions.

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