The year-end deadline for filing Beneficial Owner Information reports has been extended to January 13, 2025.

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Understanding the Corporate Transparency Act’s Reporting Requirements

The Corporate Transparency Act, introduced in 2021, aims to enhance transparency in business ownership to combat money laundering. Starting in 2024, n...

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Inflation Reduction Act and how it affects you personally and professionally

The newly passed Inflation Reduction Act is the largest clean-energy bill in US history, as it aims to make a huge impact in environmental health and...

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Feeling generous at year end? Strategies for donating to charity or gifting to loved ones

As we approach the holidays, many people plan to donate to their favorite charities or give money or assets to their loved ones. Here are the basic ta...

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Get your piece of the depreciation pie now with a cost segregation study

If your business is depreciating over 30 years the entire cost of constructing the building that houses your operation, you should consider a cost seg...

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Is a Health Savings Account right for you?

Given the escalating cost of health care, there may be a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HS...

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Is an LLC the right choice for your small business?

Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe y...

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Working in the gig economy results in tax obligations

Before the COVID-19 pandemic hit, the number of people engaged in the “gig” or sharing economy had been growing, according to several reports. And red...

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Recordkeeping DOs and DON’Ts for business meal and vehicle expenses

If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them.

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Important changes to the child tax credit

Recently, there were changes made to the child tax credit that will benefit many taxpayers.

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2021 individual taxes: Answers to your questions about limits

Many people are more concerned about their 2020 tax bills right now than they are about their 2021 tax situations. That’s understandable because your...

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Many tax amounts affecting businesses have increased for 2021

A number of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2021. Some stayed the same due t...

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Can your business benefit from the enhanced Employee Retention Tax Credit?

COVID-19 has shut down many businesses, causing widespread furloughs and layoffs. Fortunately, employers that keep workers on their payrolls are eligi...

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One reason to file your 2020 tax return early

The IRS announced it is opening the 2020 individual income tax return filing season on February 12. (This is later than in past years because of a new...

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PPP Applications and Guidance

The U.S. Small Business Administration (SBA) and Treasury have been busy preparing for both the new round of PPP loans (called 2nd Draw), and allowin...

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Small businesses- Cash in on depreciation tax savers

As we approach the end of the year, it’s a good time to think about whether your business needs to buy business equipment and other depreciable proper...

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