Insights Gallery

Maximize your QBI deduction with thoughtful planning

By Johnson & Sheldon | January 21, 2025

Discover key strategies to maximize your Qualified Business Income (QBI) deduction before it potentially expires in 2025. Learn how to navigate phaseouts, entity structures, and more to enhance your tax savings. Stay ahead with smart planning and ensure you capture this valuable opportunity.

Understanding Non-Deductible IRAs: A Smart Retirement Strategy

By Johnson & Sheldon | January 21, 2025

When planning for retirement, it's essential to explore all available options to maximize your savings. In this article, we'll delve into the benefits, limitations, reporting requirements, and potential future tax implications of non-deductible IRAs.

Proactively identifying and addressing employee burnout

By Johnson & Sheldon | January 17, 2025

Employee burnout can have devastating effects on your business, leading to increased turnover, decreased productivity, and low employee satisfaction. This article provides valuable insights on how to proactively identify and address burnout, offering practical solutions to promote a positive work environment and improve overall team performance.

From partnerships to side gigs, who really owes self-employment taxes?

By Johnson & Sheldon | January 15, 2025

Explore the impact of a recent legal shift that broadens the scope of self-employment taxes, including limited partners and gig workers. Learn how everyday activities could land you in the self-employment tax bracket and how to avoid potential penalties.

Business transition planning: What is an ESOP and when is it the right choice?

By RSM US LLP | January 13, 2025

Is an ESOP right for your business transition? Join RSM's webcast for insights on planning and benefits.

Decoding income definitions: AGI, MAGI, and taxable income explained

By Johnson & Sheldon | January 13, 2025

Navigating the U.S. tax system can be complex, particularly when understanding critical concepts like Adjusted Gross Income (AGI), Modified Adjusted Gross Income (MAGI), and Taxable Income. These definitions impact your tax liability and eligibility for various deductions and credits, playing a pivotal role in financial planning. Empower yourself with the knowledge to make informed tax decisions by decoding these essential terms in our latest article.

Strengthen Your Financial Plan: A 6-Step Checklist

By Johnson & Sheldon | January 9, 2025

Find out how to stay financially prepared for any situation with six essential steps, from building an emergency fund to estate, tax, and investment planning.

Streamline 1099 Reporting: Tips for a Smooth Filing Season

By Johnson & Sheldon | January 9, 2025

Confused about who needs a 1099 and which form applies? You’re not alone. This quick guide cuts through the chaos so you can handle your 1099s with confidence.

How consumer businesses can prepare for higher tariffs

By RSM US LLP | January 7, 2025

As consumer products companies look to a new Trump administration, higher tariffs are most likely on the way. Businesses that prepare now, even as they wait for the tariffs to take shape, will be better positioned to maximize their margins.

Global economic outlook for 2025: Modest growth amid trade tensions

By RSM US LLP | January 7, 2025

Global growth in 2025 will expand at a modest 2.5% pace as the sluggish recovery from the pandemic continues, according to our forecast.

Charitable giving: Planes, boats and automobiles

By RSM US LLP | January 6, 2025

Substantiating charitable contributions of planes, boats, and automobiles differ from other types of non-cash gifts.

Don’t let payroll taxes derail your business

By Johnson & Sheldon | January 6, 2025

Navigating the complexities of payroll taxes is a daunting task for small business owners, fraught with challenges like worker misclassification and ever-changing regulations. This article explores common pitfalls and offers actionable strategies to ensure compliance, protect your business from penalties, and maintain employee trust. Dive in to discover how you can streamline your payroll processes and focus on growing your enterprise.

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