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Self-employment (SE) tax can be a major expense for small business owners — and many self-employed individuals are blindsided by this tax when they file their first tax return with SE income. This article provides answers to questions you may have regarding SE tax, including how much it is, who owes it, whether it's deductible, how to pay it and more.

Catch-up contributions allow people age 50 and older to turbo-charge their retirement savings. Account holders should be aware that recent legislation has changed the federal income tax rules for making catch-up contributions to employer-sponsored retirement plans. The good news is that the changes won't go into effect until January 1, 2026. Here are the details.

1. Give Your New Business a Strong Start 2. A Business Emergency Plan is Critical 3. Handling Cash Payments over $10,000 4. Missing and Incorrect Taxpayer ID Numbers 5. Take Payroll Responsibilities Seriously!

New reporting rules go into effect on January 1, 2024, under the Corporate Transparency Act. This law, enacted in 2021, will require many small businesses to provide new details about beneficial owners who control the company. Hefty civil and criminal penalties may apply for failure to comply. Here's a brief overview of the requirements.

Today, it's estimated that roughly one in five Americans owns some type of cryptocurrency, such as Bitcoin or Ethereum. However, many digital asset owners and investors don't fully understand the federal tax implications. Here's important tax information for those who engage in cryptocurrency transactions, including the recordkeeping requirements

With fraudulent Employee Retention Tax Credit claims on the rise, the IRS has suspended claim processing through year end.

How much should owners and executives receive as compensation for services rendered to the business? A valuation pro can provide an objective, defensible estimate that will withstand scrutiny.

The number of businesses filing for bankruptcy has skyrocketed so far in 2023. But bankruptcy isn’t always an ending. Done right, it can provide a fresh start.

Intangibles can be valuable. But they’re also hard to value. Here’s how the business valuation pros handle these assets.

Reviewing a business valuation to expose flaws can be a daunting task. Here are some common faux pas to watch for when reading an expert’s report.

When a divorcing couple’s marital assets include a private business, it’s usually the largest asset in the estate. Here are critical obstacles that a business valuation professional can help the parties address.

Can you name five key differences between public and private companies? The answers are critical when using public market data to value closely held business interests.