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The Social Security wage base for employees and self-employed people is increasing in 2024

The Social Security wage base for employees and self-employed people is increasing in 2024

by Jackie Scroggs | Oct 25, 2023 | Newsletter

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 2023). Wages and self-employment income above this threshold aren’t subject to Social Security tax....
The tax implications of renting out a vacation home

The tax implications of renting out a vacation home

by Jackie Scroggs | Oct 10, 2023 | Uncategorized

Many Americans own a vacation home or aspire to purchase one. If you own a second home in a waterfront community, in the mountains or in a resort area, you may want to rent it out for part of the year. The tax implications of these transactions can be complicated. It...
What types of expenses can’t be written off by your business?

What types of expenses can’t be written off by your business?

by Jackie Scroggs | Oct 10, 2023 | Newsletter

If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax law doesn’t explicitly state that you can deduct office supplies and certain other...
2023 Q4 tax calendar: Key deadlines for businesses and other employers

2023 Q4 tax calendar: Key deadlines for businesses and other employers

by Jackie Scroggs | Sep 26, 2023 | Uncategorized

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all...
Evaluate whether a Health Savings Account is beneficial to you

Evaluate whether a Health Savings Account is beneficial to you

by Jackie Scroggs | Sep 19, 2023 | Newsletter

With the escalating cost of health care, many people are looking for a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical...
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Recent Posts

  • The Social Security wage base for employees and self-employed people is increasing in 2024
  • The tax implications of renting out a vacation home
  • What types of expenses can’t be written off by your business?
  • 2023 Q4 tax calendar: Key deadlines for businesses and other employers
  • Evaluate whether a Health Savings Account is beneficial to you

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