Bosma On Business

12/31/2025

Year End Tax Hack-Do You Make Tips? If You Make Money in Tips, Listen Up! Mike Bosma Has a Way To Maximize Your Tax Savings From The "No Tax On Tips" Provision Of the Watch to Find Out How Here! And at CPAs We're All About Helping You Save Tax Give Us a Call at 775-786-4900 or visit keystone.cpa for a FREE One-Hour Consultation

12/31/2025

Yes...You Can Still Save Thousands in Taxes Today... Mike Bosma Says It May Be New Year's Eve...But There's a Way You Can Still Save Lots of Money on Your April Tax Return...And It's As Simple As Opening an IRA...NOW! Of Course Keystone CPAs Knows All About Taxes and How To Save You Money. Give Them a Call at 775-786-4900, or Visit keystone.cpa Like and Subscribe youtube.com/

12/31/2025

The last payroll of the year is the foundation for accurate year-end tax reporting. A careful review now helps prevent corrections, amended filings, and unnecessary stress later.

If you’re unsure about taxable compensation, bonus timing, or payroll reconciliations, it’s a good time to loop in your CPA or payroll advisor. At Keystone CPAs, we’re always happy to help business owners close out the year cleanly and confidently—just reach out to your Keystone team for guidance.

Call at 775-786-4900 for a FREE One-Hour Consultation

12/31/2025

Business Owners, The New Year is Upon Us...Is Your Payroll Ready?

Accrue or Pay Out PTO Properly

If your company offers paid time off:

· Confirm how unused PTO is treated under company policy and state law

· Ensure any PTO payouts are processed correctly and taxed appropriately

This is especially important for states with specific PTO payout requirements.

Reconcile Payroll Records

Before closing the year:

· Reconcile payroll registers to your general ledger

· Confirm payroll liabilities match what has been paid or accrued

· Address any reconciling items now rather than during tax return prep

Clean payroll records make year-end reporting and tax filings far smoother.

Prepare for Year-End Filings

After the final payroll is run, the focus shifts quickly to compliance:

· Forms W-2 and W-3 for employees

· Forms 1099-NEC for independent contractors (not payroll, but often reviewed at the same time)

· Fourth-quarter payroll tax filings

January deadlines come fast, so being proactive now pays off.

Keystone Can Help. Call us For a FREE One-Hour Consultation at 775-786-4900/keystone.cpa

12/31/2025

Own a Business?...Make Sure Your Payroll is Ready to Face the New Year

Verify Payroll Tax Withholdings

Double-check that federal, state, and local withholdings are correct:

· Social Security and Medicare (including Additional Medicare Tax, if applicable)

· Federal and state income tax withholding

· State unemployment and local payroll taxes

This helps avoid underpayments, penalties, or correction filings later.

Review Retirement and Benefit Limits

The last payroll is your final opportunity to ensure annual limits aren’t exceeded:

· 401(k) and other retirement plan deferrals

o Employee contribution under 50 - $23,500

o Age 50+ catch-up - $7,500

o Ages 60 – 63 super catch up - $11,250

o Total contributions (employee & employer) - $70,000 before catch-ups

· HSA and FSA contributions

o HSA self-only coverage - $4,300

o HSA family coverage - $8,550

o Age 55 + catch-up - $1,000

o FSA - $3,300

o Dependent care FSA - $5,000

· Employer matching or profit-sharing contributions

Keystone Can Help. Call us For a FREE One-Hour Consultation at 775-786-4900/keystone.cpa

12/31/2025

Business Owners: 2025 Is NOT Done Yet! You Have Payroll Work To Do! Don’t Miss a Step: What Business Owners Need for the Last Payroll of the Year

Capture All Taxable Compensation

Make sure all compensation paid during the year is included in payroll:

· Bonuses and commissions

· Holiday or year-end incentive pay

· Taxable fringe benefits (e.g., personal use of company vehicles, gift cards, certain reimbursements)

· Third-party sick pay, if applicable

If bonuses are paid after year-end but intended for the current year, timing matters—this is an area where payroll and tax planning should align. Bonuses are taxable in the year they are paid, instead of the year intended for. Any bonuses meant to be taxable in 2025 need to be paid by 12/31/2025.

Keystone Can Help. Call us For a FREE One-Hour Consultation at 775-786-4900/keystone.cpa

Turn Key Solutions. Keystone CPAs LLC provides quality, personalized financial guidance to local individuals and businesses. Our expertise ranges from basic tax management and accounting services to more in-depth services such as financial statements, and financial planning.

12/31/2025

Don’t Miss a Step: What Business Owners Need for the Last Payroll of the Year

As the calendar year comes to a close, the final payroll of the year is more than just another pay run. It plays a critical role in accurate tax reporting, employee satisfaction, and avoiding costly IRS or state penalties. Taking a little extra time now can save headaches in January.

Here’s what business owners should focus on before processing their last payroll of the year.

1. Confirm Employee Information

Before running final payroll, review employee records to ensure everything is accurate:

· Legal names and current addresses

· Social Security numbers

· Filing status and withholding elections (W-4s)

· Benefit deductions and retirement contributions

Any discrepancies can cause issues when preparing Forms W-2 and filing payroll tax reports.

Can Help You Out! Call us For a FREE One-Hour Consultation at 775-786-4900 or visit keystone.cpa

12/31/2025

Mike Bosma Talks About What a "Trump" Account is And How It Can Help Fund Your Children's Tomorrows! Of Course Keystone Knows All About How These Things Work, And Can Break It Down For You. Call us at 775-786-4900 or visit keystone.cpa

12/30/2025

Estate Planning-Smart Gifts to Save Your Wealth Mike Bosma Talks About Estate Planning and How To Give Money To Your Kids The Right Way...and More Importantly The Right Tax Way! And We At Keystone CPAs Know Everything About Doing Things The Right Way When It Comes To Taxes! Give us a Call at 775-786-4900 or visit keystone.cpa

12/30/2025

Mike Talks About One of His Favorite Subjects-The Augusta Rule. Watch This Video To Find Out What It Is, And How It Can Save Business Owners Money. Of Course, Keystone Knows All About Saving Business Owners Money. Call us at 775-786-4900 or visit keystone.cpa

12/30/2025

Year End Tax Hack-Prepay For Your Business Expenses Now-Get a Deduction Later! Mike Bosma Talks About a Way You Can Possibly Get a Big Deduction...Prepaying For Your Business Expenses Before the New Year. Watch For an Example and To Find Out How It Works. Of Course Keystone CPAs Knows All The Ways You Can Save Money On Your Taxes...Give Us a Call 775-786-4900 or visit keystone.cpa