Tax Archives - Mize CPAs Inc.

IRS appraisal rules: what you need to know before gifting or donating noncash assets

Mar 17, 2025
Tax

Looking to donate or gift noncash assets? Don't do it without understanding the IRS appraisal rules first! Delve into our article to make sure your generosity won't bring unexpected tax complications.

Treasury Suspends Corporate Transparency Act (CTA) Reporting for U.S. Companies

Mar 17, 2025
Headlines, Tax

The Treasury Department has suspended the CTA filing requirement for U.S. businesses, signaling a major shift in compliance obligations. While the rule may still face legal challenges, domestic companies are no longer required to report beneficial ownership information—at least for now.

5 Reasons why people choose C corporations

Feb 26, 2025
Tax

Curious whether a C corporation could be the right fit for your business? In just a few minutes, you’ll learn five key reasons founders choose the C corporation structure. Find out how these benefits could shape your company’s future.

Mitigating liability as a 401(k) plan sponsor: your role as a fiduciary

Feb 5, 2025
Retirement planning, Tax

Offering a 401(k) plan to your employees is not just a perk—it's a significant fiduciary responsibility under ERISA that requires careful oversight and compliance to shield both the plan and its participants. Discover the core duties and common pitfalls that come with managing a 401(k) plan, and learn best practices for mitigating liability while securing your team's financial future. Stay informed on regulatory changes and proactive measures to protect your organization in this detailed guide.

The standard business mileage rate has increased for 2025

Feb 5, 2025
Tax

Important news for businesses that rely on travel: the standard business mileage rate for 2025 has increased. Discover how this change affects your business’s bottom line in our recent article.

Choosing between donor-advised funds and private foundations

Jan 24, 2025
Tax

Choosing the right charitable giving vehicle can make all the difference in achieving your philanthropic goals. Whether you’re drawn to the simplicity of a donor-advised fund or the control and legacy-building potential of a private foundation, understanding the key differences is essential. Explore how these tools can amplify your impact and help you create a lasting legacy.

Changes to Affordable Care Act (ACA) Reporting

Jan 21, 2025
Payroll

Two recent bills signed by President Biden in December 2024 change ACA reporting requirements. Applicable large employers (ALEs) are required to file a return with the IRS that reports certain information about health care coverage that the employer offered or…

Don’t let payroll taxes derail your business

Jan 15, 2025
Payroll, Tax

Navigating the complexities of payroll taxes is a daunting task for 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.

Avoid underpayment penalties: make a payment by January 15th

Jan 2, 2025
Tax

Learn how to keep abreast of your tax payments and avoid rising underpayment penalties that can quickly snowball. Discover strategies that can help you dodge unnecessary costs.

Key IRS Update: New 1099-K Thresholds Set Through 2026

Dec 16, 2024
Best practices for small businesses, Tax

Significant changes to the IRS's 1099-K reporting thresholds are on the horizon, affecting anyone who uses payment apps or online marketplaces. Starting in 2024, more of your transactions could be reported to the IRS, potentially impacting your tax obligations. Find out what these updates mean for you and how to navigate the new requirements.