A few impactful business tax provisions, many introduced by the Tax Cuts and Jobs Act (TCJA) of 2017, are on the verge of expiring or just about to take effect — if they haven’t already. Below outlines those provisions and what you should be doing now to prepare. Changes to the...
Read MoreOn August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (IRA). With many provisions derived from the previously proposed but not passed Build Back Better Act, the law introduces, modifies, extends, and bolsters numerous clean energy tax incentives available to both...
Read MoreOn August 16, 2022, President Biden signed the Inflation Reduction Act (IRA), which is a scaled back version of the Build Back Better Bill in play last fall. The IRA contains a handful of federal revenue raising provisions — to the tune of more than $700 billion — as well as...
Read MoreAs a professional services firm, we focus on helping others be successful — our clients and their businesses, our colleagues and our profession as a whole. As leaders in an industry that is constantly changing and presenting new challenges (which we welcome), we are also committed to...
Read MoreWith gas prices on the rise, one welcome increase for some is the one set to impact the optional standard mileage rate for the final six months of the year. From July 1 through December 31, 2022, the IRS increased the reimbursement rate for business use mileage to 62.5 cents per mile (from...
Read More“Golden parachute payments” are an often-scrutinized mechanism that provides a monetary bonus to executives and key employees should the company be acquired. Think of it as a protection policy of sorts for highly compensated employees who may have an uncertain future if the company is...
Read MoreWith the April 18th tax deadline just behind us, it’s timely to note that filing a return is not the end of the story for taxpayers who have “their number” called for an IRS examination. While in recent years there has been a severe staffing shortage at the IRS, followed by the...
Read MoreProperly classifying workers as employees or independent contractors has always been a recurring tax issue for many business owners, but it’s likely even more important in our current environment. With a tight labor market forcing many businesses to use independent contractors to address...
Read MoreAt 16, you can drive a car. At 18, you can vote and serve in the military. And at 21, you can order a drink in a bar. But when is the right time to create an estate plan? When should you create the basic documents that will help you and your family make important decisions in the face of an...
Read MoreIt’s natural for families to help each other out, sharing their good fortune with those they love. So, what if a child or grandchild wants to purchase a home or car and needs some help? Should you gift them the money, or is a loan the better option? There may be business, personal or...
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