by Busy Bee Advisors | May 31, 2023 | Taxes
Health Savings Accounts (HSAs) are meant to go with health plans with high deductibles and help you pay for medical costs. Due to the triple tax benefit, they can also be a great way to save for retirement. • You can get a tax break for what you give. • The amount in...
by Busy Bee Advisors | May 23, 2023 | Taxes
The $75 rule says that you don’t need a receipt for some business costs that cost less than $75. But as small business tax advisors, we want to stress that not all tax deductions follow this rule. Many taxpayers make the mistake of applying the $75 rule to all...
by Busy Bee Advisors | May 7, 2023 | Taxes
Have you recently purchased an electric vehicle (EV)? The IRS recently issued new guidance on electric vehicles and how you might be able to save on taxes. There are four ways you can potentially benefit from a federal tax credit for an EV you place in service in 2023...
by Busy Bee Advisors | Apr 18, 2023 | Taxes
Did you know you can receive tax-free education benefits for your kids? This is a lesser-known strategy that we want to cover today. If your children work in your business, consider giving them education fringe benefits. Doing this right creates tax deductions for the...
by Busy Bee Advisors | Apr 3, 2023 | Taxes
We recently enjoyed being included in a news segment on KRCA. KRCA is one of Sacramento’s top news channels and it was an honor to be on the segment. View the video below and check out the article here:...
by Busy Bee Advisors | Mar 27, 2023 | Taxes
As you may already know, there have been some significant changes to the business meal deduction for 2023 and beyond. The deduction for business meals has been reduced to 50 percent, a significant change from the previous 100 percent deduction for business meals in...
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