529 Plan vs. Custodial Account: Choosing the Best Option for Your Child’s Future
Congratulations on the new addition to your family! Planning for your child’s financial future is a significant step, and two popular options to consider are 529 plans and custodial accounts. Below, we break down the key benefits and drawbacks of each option to help you make the best decision for your growing family. 529 Plan […]
Beneficial Ownership Information Reporting for Small Businesses
In recent years, regulations around corporate transparency have become stricter, and small business owners need to be aware of new requirements. One key area of focus is Beneficial Ownership Information (BOI). What is Beneficial Ownership Information? Beneficial ownership information refers to the identifying details of individuals who directly or indirectly own or control a company. This […]
Understanding Employee Pay
Welcome back to the Hedgi AI blog! Today, we’re covering a crucial topic for any small business owner: Employee Pay. Whether you’re paying salaries, bonuses, or other types of compensation, it’s essential to understand how these expenses affect your business and taxes. Deducting Employee PayYou can generally deduct the amount you pay your employees for […]