Recent News & Blog / Business Tax
2025 Payroll Tax Bulletin
The IRS recently released the 2025 payroll tax rates, which we have summarized in a bulletin for your convenience and quick reference.
2025 Rates & Dates
The IRS recently released the 2025 rates and dates, which includes individual tax rate schedules, roth retirement contributions, social security taxes, payroll tax deposit due dates for businesses, and more.
The latest on the Corporate Transparency Act BOI injunction
Important Update As of December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit reinstated a nationwide preliminary injunction against the Corporate Transparency Act (CTA).
Valuing intangible assets
Intangible assets, such as patents, trademarks and goodwill, play a key role in businesses. The tax implications of intangibles can be complex, but businesses should understand them and the exceptions. Contact the CPAs and business advisors at SEK with questions about intangibles.
Maryland businesses: Claim your $300 exemption before year-end
If your business operates in Maryland, you may be eligible for a $300 exemption under the MarylandSaves Credit program. Here’s what you need to know:
What local transportation costs can your business deduct?
You and your small business likely incur a variety of local transportation costs each year. Commuting costs aren’t deductible, but the cost of any local trips you take for business purposes is a deductible business expense. Contact the CPAs and tax advisors at SEK with your tax deduction questions.
Healthy savings: How tax-smart HSAs can benefit your small business and employees
As a small business owner, managing health care costs for yourself and your employees is challenging. So you may want to provide some benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, HSAs are a tax-advantaged way to set aside funds (or have their employers do so) to meet medical needs. Contact the business advisors at SEK with questions.
Corporate Transparency Act blocked nationwide by Texas court
The Corporate Transparency Act and its implementing regulations, which require US business entities to report stakeholder information to the Treasury Department, were preliminarily blocked nationwide by a Texas federal court on Tuesday.
When can you deduct business meals and entertainment?
Business-related meal deductions can be valuable, but the rules can be complex. Under current law, your business can’t deduct most entertainment expenses. There are, of course, several exceptions. Contact the business tax advisors at SEK if you want more information.
Self-employment tax: A refresher on how it works
Do you own a growing, unincorporated small business, and are you concerned about high self-employment (SE) tax? The SE tax is how Social Security and Medicare taxes are collected from self-employed individuals. Contact the CPAs and tax advisors at SEK if you have questions or want more information about the SE tax and ways to reduce it by operating as an S corporation.