May 16, 2025
In this episode:
-
Explanation of how Health Savings Accounts (HSAs) work, including tax benefits, contribution limits, and how they differ from FSAs
-
Reminder for nonprofits about the May 15 Form 990 filing deadline and the risk of losing tax-exempt status if not filed properly
-
Tax treatment of different types of legal settlements, including which are taxable and which are not
-
Overview of when estimated tax payments are required and how to make them online for better security and tracking
-
Discussion of the new W-4 form complexity and strategies for ensuring proper withholding
-
Guidance on the importance of financial reports—specifically profit & loss statements, balance sheets, accounts receivable aging reports, and budgets
-
Advice on monitoring budget vs. actual performance and controlling unnecessary business expenses
-
Emphasis on the value of financial literacy for business owners and how to use monthly reports as management tools
-
Encouragement for listeners to continue submitting questions for future episodes