The imminent enforcement of the Corporate Transparency Act (CTA) is a critical turning point that demands immediate attention from business owners to avoid severe penalties. Ultimately, business owners need to understand that it’s the business…
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As of Sept. 14, 2023, the Internal Revenue Service (IRS) announced an immediate halt to the processing of new claims for the Employee Retention Credit (ERC) program. This decision is effective until at least the…
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The Internal Revenue Service (IRS) unveiled proposed guidelines on Digital Asset Reporting, highlighting the mandatory reporting requirements for digital assets, from cryptocurrencies to non-fungible tokens (NFTs). This move comes in tandem with the exponential growth…
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Inheritance brings its own set of challenges. Within the vast world of financial legacies, inherited Individual Retirement Accounts (IRAs) stand out thanks to their annual withdrawal requirements, also known as Required Minimum Distributions (RMDs). With…
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As we increasingly embrace the post-pandemic era, the world of work has undergone a significant shift. Many companies have opted for remote work models, dispersing employees across various states and countries. However, while beneficial in…
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As a small business owner, staying informed about the ever-evolving tax landscape is crucial to optimize your financial strategies. In particular, understanding the changes in bonus depreciation can significantly impact your tax savings. This article…
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As businesses continue to grapple with the financial aftershocks of the COVID-19 pandemic, one beacon of relief remains within reach: the Employee Retention Credit (ERC). This tax credit, designed to support businesses that have kept…
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As we approach the halfway point of 2023, it’s the perfect opportunity to evaluate your business tax planning and determine ways to decrease your tax burden. Employing the right strategies can reduce your taxes, optimize…
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The new lease accounting methods have been an important topic for businesses over the last few years. Determining if an enforceable lease exists is an integral part of Topic 842 that affects how and what…
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Fraud. Scam. Phishing. Regardless of what you call these illicit activities, it’s important to protect yourself against the bad players that take advantage of weaknesses for their gain. Not only is it inconvenient, but there’s…
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