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Proactive Business Accounting & Tax Strategies from BCE. Minimize tax burdens, maximize profits, & achieve long-term success.
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Withdrawing from Retirement Accounts? Avoid a Penalty and Tax Surprise

Withdrawing from Retirement Accounts? Avoid a Penalty and Tax Surprise Published: 2/15/2024 Retirement accounts that provide tax breaks have very specific rules that must be followed if you want to enjoy the financial rewards of those tax breaks. One of these rules defines WHEN you’re allowed to pull money from your retirement accounts. If you […]

Game-Changing Moves to Improve Your Credit Score

Game-Changing Moves to Improve Your Credit Score Published: 2/10/2024 While your credit score is a three-digit number that’s automatically assigned to you, this is one area of your financial life where you have quite a bit of control. The moves you make or don’t make with your credit can help determine where this score falls […]

6 Surprising Taxable Items

6 Surprising Taxable Items Published: 2/6/2024 If something of value changes hands, you can bet the IRS considers a way to tax it. Here are six taxable items that might surprise you: Surprise #1: Hidden treasure. In 1964, a married couple discovered $4,467 in a used piano they purchased seven years prior for $15. After […]

Great Tax Tips to Start the New Year

Review Beneficiaries, Fully Fund FSA or MSA, Planfully Fund Retirement Accounts, Consider Any Anticipated Tax Events, Review Withholdings, Consider The Child Factor, Consider Your Property

Great Tax Tips to Start the New Year Published: 12/29/2024 The old year is ending and the new one is about to start. Here are some tax tips to get you going into the new year with a brighter tax future on your horizon. 1. Review Beneficiaries Now is the time to review beneficiaries in […]

IRS Identity Theft Season Begins Now

Having your tax withholding stolen and then needing to unravel this problem within the IRS is a major hassle. Try to stay vigilant and know that there are steps to help protect your tax records.

IRS Identity Theft Season Begins Now Published: 01/26/2024 Each year thieves try to steal billions in federal withholdings by stealing your identity. As the IRS focuses more attention on this quickly growing problem, now is the time of year to be extra vigilant. Early tax filing season is the worst time Your federal tax account […]

New Federal Reporting Required

Financial Crimes Enforcement Network (commonly referred to as FinCEN), is a bureau of the U.S. Department of the Treasury that collects and analyzes information to help fight financial crimes.

SMALL BUSINESS ALERT: New Federal Reporting Required Published: 01/19/2024 Beginning in 2024, many small businesses will have to report information about their owners to the Financial Crimes Enforcement Network (commonly referred to as FinCEN), a bureau of the U.S. Department of the Treasury that collects and analyzes information to help fight financial crimes. Here is […]

2024 Mileage Rates

How much are milage rate write offs in 2024

2024 Mileage Rates are Here! Published: 01/12/2024 Mileage rates for travel are now set for 2024. The standard business mileage rate increases by 1.5 cents to 67 cents per mile. The medical and moving mileage rates are now 21 cents per mile. Charitable mileage rates remain unchanged at 14 cents per mile. 2024 New Mileage […]

Fourth Quarter Estimated Taxes Now Due

You are required to withhold at least 90 percent of your 2023 tax obligation or 100 percent of your 2022 federal tax obligation.

Fourth Quarter Estimated Taxes Now Due Published: 01/05/2024 If you have not already done so, now is the time to review your tax situation and make an estimated quarterly tax payment using Form 1040-ES. The 4th quarter due date for the 2023 tax year is now here. Due date: Tuesday, January 16, 2024 You are […]