Tax Alert

Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses’ concerns about the validity ... Read More >

Are you a small business owner or corporate owner holding appreciated company stock in your 401(k) or other qualified employer-sponsored retirement ... Read More >

The holidays are just around the corner, and now is the time for employers to start thinking about treating their employees with holidays parties ... Read More >

Are you and your employees frustrated by the time-consuming task of documenting and reviewing travel expenses? The IRS offers simplified methods for ... Read More >

Section 529 plans can be a tax-smart way to save for college and other qualified education expenses. Contributions to these plans aren’t deductible ... Read More >

Private businesses implemented new lease accounting rules in 2022, resulting in a major shift in how leases are reported for “book” purposes. ... Read More >

There’s more to paying taxes than just federal and state income taxes. Another major tax chore for employers is payroll taxes. These expenditures ... Read More >

Real estate can be an attractive long-term business investment. For tax reasons, you’re generally well-advised not to hold real property in a ... Read More >

Federal income tax deductions for taxpayers who use passenger autos more than 50% for business were permanently expanded by the Tax Cuts and Jobs ... Read More >

President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). ... Read More >

The Tax Cuts and Jobs Act (TCJA) limits itemized deductions for state and local tax (SALT) payments for 2018 through 2025. This unfavorable tax law ... Read More >

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in ... Read More >

The SECURE 2.0 Act of 2022, part of the giant budget law passed at the end of 2022, improves the credit for pension plans established by small employers ... Read More >

Comprehensive financial statements prepared under U.S. Generally Accepted Accounting Principles (GAAP) include three reports:  The balance sheet, ... Read More >

The proliferation of phishing scams continues. Here are some new fraud schemes you should look out for, as well as twists on well-known varieties that ... Read More >

Why you might want to file early and answers to other tax season questions. The IRS announced it opened the 2023 individual income tax return filing ... Read More >

On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023. The sprawling year-end spending “omnibus” package includes ... Read More >

On 10/25/2022, the IRS updated the draft Partnership Instructions for Schedule K-2 and K-3, Form 1065, for the 2022 tax year. These new instructions, ... Read More >

It’s time for year-end tax planning. Every fall, small business owners should review their tax situations to determine steps they should consider ... Read More >

The IRS is warning of a recent surge in the incidence of scams in which fraudsters send text messages that appear to come from the agency as a means ... Read More >