We are writing to update you on the latest developments in 2023 health insurance for S corporation owners. As a more-than-2-percent S corporation owner, you are entitled to some good news when it comes to your health insurance. To ensure that your health insurance deductions are in order and to avoid the $100-a-day penalties for
As you are likely aware, if you have an IRA or other tax-deferred retirement account, you must start taking required minimum distributions (RMDs) once you reach a certain age. The SECURE 2.0 Act raises the age at which RMDs must first be taken, from age 72 to 75, over the next 10 years. Specifically, the
In 1986, lawmakers drove a stake through the heart of your rental property tax deductions. That stake, called the passive-loss rules, causes myriad complications that now, 37 years later, are still commonly misunderstood. The Trap In 1986, lawmakers made you shovel your taxable activities into three basic tax buckets. Looking at the buckets from a
One of the key advantages of using a virtual CFO service over an in-house CFO is cost savings. Hiring an in-house CFO can be expensive, as it requires paying a full-time salary, benefits, and other overhead costs. On the other hand, virtual CFO services are typically more affordable, as they offer flexible pricing options and
A virtual CFO can transform a business by providing expert financial guidance and support without the need for a full-time, in-house CFO. This can save businesses significant costs while still receiving high-quality financial advice. Virtual CFOs can also provide a fresh perspective on a business’s financial operations, identifying areas for improvement and implementing strategies to
Small business owners often find themselves wearing multiple hats, including that of an accountant or bookkeeper. This can be a time-consuming task that takes away from other important business operations. By outsourcing these day-to-day accounting and bookkeeping processes to a fractional CFO service, small business owners can free up valuable time to focus on growing