Beginning January 1, 2024, small business entities are required by the Corporate Transparency Act to report information about their beneficial owners to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN)….

Did you know that you can generally contribute to your health savings account (HSA) for the tax year 2023 up to April 15, 2024?….

The 2024 S.S. wage base increases to $168,600, an $8,400 increase. The S.S. tax rate remains at 6.2% for both employers and employees, as well as the 1.45% Medicare tax on all compensation, with no cap.

Standard rate for business driving is 67 cents per mile, medical rate and moving expenses for active members of the Armed Forces is 21 cents per mile, and charitable rate remains at 14 cents per mile.

Each year, an IRA owner age 70½ or over can transfer up to $100,000 to charity tax-free. For a married couple, if both spouses are age 70½ or over and both have IRAs, each spouse can transfer up to $100,000 for a total of up to $200,000 per year…