Tax Archives - Mize CPAs Inc.

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.

Keep Your Finances from Becoming a Nightmare

Oct 21, 2024
Payroll, Tax

While goblins, ghosts, and ghouls can be fun, haunting financial practices are anything but! Here are some best practices to keep your accounting from becoming a horror story. Avoid the Ghosts of Transactions Past: Reconcile Regularly Much like how ghosts…

Maximizing real estate returns with cost segregation

Aug 14, 2024
Tax

Want to make your real estate work harder for your financial goals? Explore cost segregation, a tax strategy that can accelerate depreciation deductions and increase short-term cash flow.

IRS moves forward in Employee Retention Credit processing

Jul 11, 2024
Tax

The IRS is making significant strides in processing Employee Retention Credits. Gain a deeper understanding of these recent updates and their implications for your business. Stay ahead of the curve by reading our latest article.

Two Piles Of Cash On A Table With A Calculator And Notepad

Alternative Minimum Tax basics for individuals

Jun 10, 2024
Tax

Understanding the Alternative Minimum Tax (AMT) can be complex, but it's essential for strategic tax planning. This article guides you through the process of calculating your AMT and offers useful strategies for minimizing its impact.

Picture Of Tax Documents Spread On A Desk With Two Gold Coins On Top And Stickers Spelling TAX

Preparing for the post-TCJA era: corporate tax changes for 2026 and beyond

Jun 3, 2024
Tax

Discover what the post-TCJA era has in store for corporate tax changes in 2026 and beyond. This article clarifies the complex tax landscape and offers valuable foresight for businesses. Don't miss out on this opportunity to stay ahead of the curve and prepare your company for the future.

Photo Of A Man And Woman Planning For Retirement

2024 Update: waiver of RMDs for inherited IRA beneficiaries

May 8, 2024
Retirement planning

The IRS's latest notice suspends RMDs for some inherited IRAs in 2024, offering beneficiaries a financial breather. Find out if you qualify for this waiver and how it affects your tax obligations.