Business

A team of employees in front of a class wall with post-it notes working on a strategy

Prepare for Resilience with a Business Continuity Plan

Companies without a disaster recovery or business continuity plan need only consider the aftermath of recent hurricanes. News reports estimated property damages from Hurricane Helene alone last year to be more than $59.6 billion, plus disruption of untold businesses and services.

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Standard Mileage Rates for 2023

Business Mileage Rate Is Up for 2025

The IRS has issued the 2025 cents-per-mile rates that can be used to calculate tax-deductible vehicle operating costs. Effective Jan. 1, 2025, the standard mileage rate for the business use of a car, van, pickup truck, or panel truck is 70 cents per mile.

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The Pros and Cons of Operating as a C Corporation

When deciding on the best structure for your business, one option to consider is a C corporation. This entity offers several advantages and disadvantages that may significantly affect your business operations and financial health. Here’s a detailed look at the pros and cons of operating as a C corporation.

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Starting a Home-Based Business

More than half of all businesses today are home-based. Every day, people strike out to achieve economic and creative independence by turning their skills into dollars. Garages, basements, and attics are being transformed into the corporate headquarters of the newest entrepreneurs – home-based business people.

And with technological advances in smartphones, tablets, and iPads and rising demand for “service-oriented” businesses, the opportunities seem endless.

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Tips to Find Out if Your Gift is Taxable

Business Gifts: What’s the Tax Treatment?

During the holiday giving season, keep the following tax limits in mind. Your business can deduct only up to $25 per person per year for gifts to recipients such as clients and business partners. You can also generally deduct $25 per person per year for employee gifts.

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Casually dressed business man sitting in his airplane seat looking at a laptop.

From Flights to Meals: A Guide to Business Travel Tax Deductions

As a business owner, you may travel to visit customers, attend conferences, check on vendors, and for other purposes. Understanding which travel expenses are tax deductible can significantly affect your bottom line. Properly managing travel costs can help ensure compliance and maximize your tax savings.

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Turquoise porcelain piggy bank with stethoscope and small pad with the letters HSA

How Tax-Smart HSAs Help Your Business and Employees

As a small business owner, managing health care costs for yourself and your employees can be challenging. One effective tool to consider adding is a Health Savings Account (HSA). HSAs offer a range of benefits that can help you save on healthcare expenses while providing valuable tax advantages. You may already have an HSA. It’s a good time to review how these accounts work because the IRS has announced the relevant inflation-adjusted amounts for 2025.

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