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HUGHES & COMPANY LLC BLOG

 


The 2021 “Social Security wage base” is increasing

If your small business is planning for payroll next year, be aware that the “Social Security wage base” is increasing.…
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Reviewing your disaster plan in a tumultuous year

It’s been a year like no other. The sudden impact of the COVID-19 pandemic in March forced every business owner…
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Divorcing couples should understand these 4 tax issues

When a couple is going through a divorce, taxes are probably not foremost in their minds. But without proper planning…
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Inventory management is especially important this year

As year-end draws near, many businesses will be not only be generating their fourth quarter financial statements, but also looking…
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Employers have questions and concerns about deferring employees’ Social Security taxes

The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit…
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IRS announces per diem rates for business travel

In Notice 2020-71, the IRS recently announced per diem rates that can be used to substantiate the amount of business…
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Prioritize customer service now more than ever

You’d be hard-pressed to find a business that doesn’t value its customers, but tough times put many things into perspective.…
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Homebuyers: Can you deduct seller-paid points?

Despite the COVID-19 pandemic, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide,…
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ESOPs offer businesses a variety of potential benefits

Wouldn’t it be great if your employees worked as if they owned the company? An employee stock ownership plan (ESOP)…
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Back-to-school tax breaks on the books

Despite the COVID-19 pandemic, students are going back to school this fall, either remotely, in-person or under a hybrid schedule.…
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