business owners Archives - Mize CPAs Inc.

Getting more from every dollar: pre-tax arbitrage for business owners

Oct 1, 2025
Tax

Unlock the power of pre-tax spending to optimize your financial strategy and significantly reduce tax burdens. Discover how strategic spending can transform everyday expenses into effective wealth-building tools through educational assistance programs, healthcare accounts, and charitable giving policies. Learn how high-earning individuals and businesses can deploy these tactics to preserve more income and enhance future growth.

An Image Of A Car's Dash Displaying Mileage.

The standard business mileage rate has increased for 2025

Feb 5, 2025
Tax

Important news for businesses that rely on travel: the standard business mileage rate for 2025 has increased. Discover how this change affects your business’s bottom line in our recent article.

Person's Hands Researching On Ipad With Paperwork Next To Them At Desk.

Corporate Transparency Act: What You Need to Know

Jan 2, 2024
Headlines, Tax

The U.S. Department of the Treasury, through the Financial Crimes Enforcement Network (FinCEN), has implemented new reporting requirements for beneficial ownership information (BOI) as a result of the Corporate Transparency Act passed by Congress in 2021. This legislation aims to…

Photo Of A Man And Woman Studying A Form Sitting On The Table

Divorcing business owners should pay attention to the tax consequences

Sep 8, 2023
Tax

If you’re getting a divorce, you know the process is generally filled with stress. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest personal assets and in…

Receive more than $10,000 in cash at your business? Here’s what you must do

Aug 17, 2023
Tax

Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your income tax return. The requirements Each person who, in the course…

Photo Of Person Punching Receipt Amounts Into A Calculator

Corporate officers or shareholders: How should you treat expenses paid personally?

Aug 2, 2023
Personal finance, Tax

If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may end up being nondeductible both by an officer and the corporation unless the correct steps are taken.…

Photo Of A Person Writing On A Tax Form On A Clipboard With A Calculator Nearby

Starting a business? How expenses will be treated on your tax return

Jul 11, 2023
Tax

Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports that business applications are still increasing slightly (up 0.4% from April 2023 to May 2023). The Bureau…

2023 Q3 tax calendar: Key deadlines for businesses and other employers

Jun 26, 2023
Tax

Here are some of the key tax-related deadlines affecting businesses and other employers during the third quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to…

Person's Hand On The Steering Wheel Of A Car

Standard Business Mileage Rate Increasing In 2023

Jan 5, 2023
Tax

Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2023. The…

Clock, Calendar, Cash, And Blocks Reading TAX Sit On A Table

Key Tax Deadlines for Employers – 2023 Q1

Dec 20, 2022
Best practices for small businesses, Tax

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2023. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. If you have…