Self Employment Tax
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The Social Security wage base for employees and self-employed people is increasing in 2024
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for…
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Investment swings: What’s the tax impact?
If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year-end…
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Spouse-run businesses face special tax issues
Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue. An unincorporated…
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Use an S corporation to mitigate federal employment tax bills
If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder! For 2023, the SE…
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Choosing an entity for your business? How about an S corporation?
If you’re starting a business with some partners and wondering what type of entity to form, an S corporation may be the most suitable form…
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Important tax aspects of operating your business as a sole proprietor
If you’re in business for yourself as a sole proprietor, or you’re planning to start a business, you need to know about the tax aspects…
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