W. E. Stevens, PC

Secure a Safe Harbor 401(k) Before October 1: Why Q3 Is Your Window of Opportunity

Secure a Safe Harbor 401(k) Before October 1: Why Q3 Is Your Window of Opportunity If you’ve been thinking about offering a 401(k) to your employees — or improving your own retirement savings as a business owner —

Smart Retirement Savings for Entrepreneurs

UPDATED FOR 2025 – 2/3/25 4:44 PM Dear Client, When it comes to saving for retirement as a small business owner, you have several options. Here’s a quick guide to help you choose the best plan for your

Discover Your Tax Savings!

Dear Client, Many taxpayers find the differences between tax planning and tax preparation confusing. What’s the point of tax planning? Won’t you owe the same amount no matter what? Let’s take a look. Tax Planning Tax planning involves

Mastering Depreciation: Essential Tips

Dear client, We understand that managing your business’s finances can sometimes feel like navigating a complex maze. That’s why we’re here to simplify one important aspect: depreciation and amortization. These concepts might sound intimidating but understanding them can

June 6, 2024June 6, 20243 Min Reading

Is Your Wage Up to Date?

Dear client, As a S-Corp owner, do you need to pay yourself a wage? How much should you pay yourself? Does this need updating? These are all common questions, which we’ll address today. Do you need to pay

May 2, 2024October 7, 20242 Min Reading

New Reporting Law: Is It Unconstitutional?

What is BOI Reporting? Effective January 1, 2024, the Corporate Transparency Act (CTA) mandates many businesses must submit beneficial ownership information (BOI) to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). This led to the National

April 18, 2024April 18, 20243 Min Reading

New Rule – Employee or Independent Contactor

New Rule – Employee or Independent Contactor Article Highlights: New U.S. Department of Labor Rule New Six Factor Test The Department of Labor (DOL) has a new rule defining whether a worker is an independent contractor or an

March 8, 2024March 8, 20243 Min Reading

Oh Boy, New BOI Reporting Requirements

What is Beneficial Ownership Information Reporting? Beneficial Ownership Information (BOI) reporting is a federal requirement by the Corporate Transparency Act (CTA). BOI reports include information about all the company’s beneficial owners. Who is considered a Beneficial Owner? A

January 18, 2024January 18, 20243 Min Reading

Business Owners: Utilize Your Accountant!

Running a business is hard enough without adding the complexity of filing taxes each year. The key is to work with your accountant throughout the year, not just when you prepare your tax return. Making financial decisions without

December 22, 2023December 18, 20234 Min Reading

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