September | 2024 | Business Management Company

Make year-end tax planning moves before it’s too late!

September 24, 2024 / by Brett Hess / Tax

With the arrival of fall, it’s an ideal time to begin implementing strategies that could reduce your tax burden for both this year and next. One of the first planning steps is to ascertain whether you’ll take the standard deduction or itemize deductions for 2024. You may not itemize because of the high 2024 standard […]

Businesses must stay on guard against invoice fraud

September 19, 2024 / by Brett Hess / Small Business

Fraud is a pernicious problem for companies of all shapes and sizes. One broad type of crime that seems to be thriving as of late is invoice fraud. In the second quarter of 2024, accounts payable software provider Medius released the results of a survey of 1,533 senior finance executives in the United States and […]

Are you liable for two additional taxes on your income?

September 9, 2024 / by Brett Hess / Tax

Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Let’s take a look at these taxes and what they could mean for you. 1. The NIIT In addition to income tax, this tax applies on […]

Are you unfairly burdened by a spouse’s tax errors? You may qualify for “innocent spouse relief”

September 3, 2024 / by Brett Hess / Tax

Navigating the complexities of tax law can be difficult, especially when faced with an unexpected tax bill due to the errors of a spouse or ex-spouse. The reason for such a bill has to do with the concept of “joint and several” liability. When a married couple files a joint tax return, each spouse is […]