June 2025 Newsletter
Sarah B
Our regularly updated newsletter provides timely articles to help you achieve your financial goals. Please come back and visit often.
Feature Articles
- Choosing the Optimal Accounting Method for Tax Savings
- What's Your Business Exit Strategy?
- Invest in Your Kids' or Grandkids' Future with Help from the Tax Code
- Maximizing Deductions with Charitable Contributions
- IRS Audit Triggers Small Business Owners Should Avoid
- How to Navigate Regulatory Changes With a Business Consultant
- Common Mistakes in Estate Accounting and How to Avoid Them
Tax Tips
- Marriage and Taxes: Key Changes After Saying 'I Do'
- Sending the Kids to Day Camp this Summer?
- Combine a Business Outing with Tax Breaks
- Upcoming Tax Due Dates
Our regularly updated newsletter provides timely articles to help you achieve your financial goals. Please come back and visit often. Feature Articles How Does the New Tax Deduction for Car Loan Interest Work? NOL Deductions Can Ease the Pain of Business Losses The Tax Implications of Remote Work Tax Tips Simplify Expense Reporting With High-Low Travel Per Diem Rates Last-Minute Tax Strategy: Accelerating Deductions What Are the Tax Consequences of Employee Gifts?
December 15 Calendar-year corporations: Pay the fourth installment of 2025 estimated income taxes, completing Form 1120-W for the corporation’s records. Employers: Deposit Social Security, Medicare and withheld income taxes for November if the monthly deposit rule applies. Employers: Deposit nonpayroll withheld income tax for November if the monthly deposit rule applies. January 12 Individuals: Report December 2025 tip income of $20 or more to employers (Form 4070).
The holidays are a time for gratitude, and many employers show appreciation by giving gifts to their staff. Different types of gifts can have different tax consequences. So whether it’s a gift card, a holiday turkey or a year-end bonus, it’s important to know how the IRS will treat the gift. “Achievement awards” are deductible by the employer and tax-free to the employee if certain rules are met, including that the gift be of tangible personal property. So are “de minimis” gifts, such as that holiday turkey. But year-end bonuses are taxable. Contact the office if you have questions about the tax implications of employee gifts.