Tax Preparation, Insurance, Payroll, Medicare and Business Advisement in Jamestown NY
What to look for and how to protect yourself Under the right circumstances, sole proprietors and other small businesses can reimburse employees for legitimate out-of-pocket medical expenses up to the annual limits. By implementing a … [Read more...] about Qualified Small Employer Health Reimbursement Arrangements
A tax-free way to help your favorite cause Normally, money distributed from an Individual Retirement Account (IRA) is taxable. However, if the funds are donated directly to charity, the distribution is completely tax-free. This is a significant … [Read more...] about Using an IRA to Make Charitable Contributions
Is your S corp paying you enough? Entrepreneurs often struggle with the question of how much to pay themselves. The underlying rule is that individuals who own and operate their business through an S corp need to pay themselves a “reasonable” … [Read more...] about Reasonable Compensation
A Closer Look at the Benefits Health savings accounts (HSA) are used in conjunction with a high deductible health plan and offer four tax advantages compared to traditional savings and investment accounts: A health savings account (HSA) … [Read more...] about Health Savings Account
Business taxpayers must use depreciation to deduct the cost of property purchased for use by the company. Basically, depreciation spreads the cost across the useful life of the property. Two options can allow you to take the expense earlier or … [Read more...] about Depreciation Tax Notes
Richard J. Lawson, owner of Lawson Home Inspection since 2010, is a New York State licensed home inspector (#16000047814), and an associate member of NAHI (National Association of Home Inspectors). With over 10 years of experience in the construction … [Read more...] about Lawson Home Inspection
