| Andrew G. Klapac

Work Opportunity Tax Credit Is Set to Expire: What Employers Need to Know

In today's labor market, your business may need to think outside the box to find employees to fill open positions. The good news: You may be able to offset compensation costs with the lucrative Work Opportunity Tax Credit (WOTC) for hiring members of certain "targeted" groups. Be aware that the WOTC is currently set to expire on December 31, 2025, unless Congress extends it. Here are some answers to questions that employers may have about this credit.

Favorable Business Depreciation Tax Changes under New Law

There's good news for businesses considering buying equipment and other capital assets: The One Big...

How to Properly Report Your Company’s COGS

Do you own a business that manufactures or sells physical goods? For these businesses, accurate...

What Are the Tax Implications of Gold and Other Precious Metal Investments?

To hedge against stock market volatility and inflation, some IRA owners and investors put money...

Recent Survey Highlights Financial Struggles among Retirees

Fewer than one-quarter of currently retired people feel "very confident" they'll maintain a...

How to Trim Your 2024 Taxes by Contributing to a Retirement Plan in 2025

Many types of retirement plans allow contributions to be made after year end. And last-minute...

C Corporations: Tax Issues to Consider When Closing a Business

Are you thinking about closing your business? Rising prices, labor shortages, fluctuating demand...

7 Tax Breaks for Business Buildings

Businesses are returning to their regular work premises in droves. About 65% of U.S. businesses...

IRS Targets Partnership Tax-Reduction Tactic

The IRS recently announced the launch of a new multistage regulatory initiative intended to close...

Business Owners: Expiration Date Is Approaching for Certain TCJA Provisions

The Tax Cuts and Jobs Act (TCJA) included many important federal income tax provisions that affect...