BLOG

Good news for small businesses: The deadline for filing Beneficial Ownership Information (BOI) reports might be extended by a year. The House of Repre...

The landscape of compliance with the Beneficial Ownership Information (BOI) Reporting requirement under the Corporate Transparency Act (CTA) has chang...

Employee stock options remain a potentially valuable asset for employees who receive them. For example, many Silicon Valley millionaires got rich (or ...

How much can you and your employees contribute to your 401(k)s or other retirement plans next year? In Notice 2024-80, the IRS recently announced cost...

While many people donate cash or volunteer for their favorite causes, charities also welcome donations of company stock. Stock donations can offer a t...

Hiring household help, whether you employ a nanny, housekeeper or gardener, can significantly ease the burden of childcare and daily chores. However, ...

Recently, a 401(k) plan participant was defrauded of approximately $740,000 when he fell victim to an elaborate scheme perpetrated by overseas crimina...

As a business owner, you may travel to visit customers, attend conferences, check on vendors and for other purposes. Understanding which travel expens...

When you think about tax deductions for vehicle-related expenses, business driving may come to mind. However, businesses aren’t the only taxpayers t...

If you own a small business with no employees (other than your spouse) and want to set up a retirement plan, consider a solo 401(k) plan. This is also...

In today’s global economy, an established business might consider expanding its revenue base by acquiring or merging with a company in an emerging m...

In a groundbreaking decision, a federal district court in Texas has issued a nationwide preliminary injunction that blocks the enforcement of the bene...

As the end of the year approaches, many people start to think about their finances and tax strategies. One effective way to reduce potential estate ta...

As we approach 2025, changes are coming to the Social Security wage base. The Social Security Administration recently announced that the wage base for...

Skimming, where criminals use hidden digital readers to steal debit and credit card information, is a pervasive threat that can result in significant ...

In 2021, Congress passed the Corporate Transparency Act (CTA). The CTA requires many entities doing business in the US to report information about the...

Let’s say you have an unincorporated sideline activity that you consider a business. Perhaps you offer photography services, create custom artwork o...

The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals. By 2026, it plans to nearly triple its audit ...

Discounts for lack of marketability are well established when valuing minority interests in closely held businesses. But many valuation experts believ...

As appearing at the IRS web page entitled “IRS Audits”. An IRS audit is a review/examination of an organization’s or individual̵...

As Reported via IR-2024-263 on 10/10/2024 The Internal Revenue Service announced on 10/10/2024 continued progress on Employee Retention Tax Credit cla...

If you have a child or grandchild planning to attend college, you’ve probably heard about qualified tuition programs, also known as §529 plans. Th...

Does your business require real estate for its operations? Or do you hold property titled under your business’s name? It might be worth reconsiderin...

You may trust your executive management team implicitly. But the research is clear: In organizations where executives turn to fraud, the results are v...

The recent drop in interest rates has created a buzz in the real estate market. Potential homebuyers may now have an opportunity to attain their dream...

Businesses face uncertain conditions today, including geopolitical and cybersecurity risks, inflation concerns, environmental issues, and a lack of cl...

Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany off...

As reported via IR-2024-240 on 9/18/2024 The Department of Treasury and Internal Revenue Service issued proposed regulations to provide guidance for t...

With the arrival of fall, it’s an ideal time to begin implementing strategies that could reduce your tax burden for both this year and next. One of ...

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list...

Protecting your small business from theft is far more complex than it used to be. Gone are the days when locking the doors was enough to minimize the ...

Working from home has become increasingly common. The U.S. Bureau of Labor Statistics (BLS) reports that about one out of five workers conducts busine...

When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated ...

Manufacturers are as varied as the products they make. They come in different sizes and specialties. So no universal formula applies when determining ...

Electric vehicles (EVs) have become increasingly popular. According to Kelly Blue Book estimates, the EV share of the vehicle market in the U.S. was 7...

With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and next. T...

Your business probably has a disaster plan — or a set of procedures for dealing with a fire, natural disaster, terrorist attack or other emergency t...

Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability and other...

A recent U.S. Supreme Court ruling resolves a circuit split on a business valuation issue — and it could have a major impact on the value of many cl...

Believe it or not, there are ways to collect tax-free income and gains. Here are some of the best opportunities to put money in your pocket without cu...

Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-e...

Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A majo...

Workers’ compensation insurance can provide medical care and financial assistance to employees who are injured or incapacitated at work. However, th...

Many employees began working remotely during the pandemic and continue doing so today. Remote work has many advantages for employers and employees, an...

Shareholders who own a minority interest in a business may not always agree with key decisions made by controlling shareholders. For instance, a minor...

Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant ...

Navigating the complexities of tax law can be difficult, especially when faced with an unexpected tax bill due to the errors of a spouse or ex-spouse....

Office supply scams are a tricky type of vendor fraud that generally use behavioral psychology and often depend on poor intraoffice communications for...

Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect owners...

As appearing in IR-2024-198 Businesses urged to proactively resolve erroneous claims to avoid penalties, interest, audits As the Internal Revenue Serv...