Navigating the Tax Implications of Remote Work for SMBs: A Comprehensive guide
In the wake of the pandemic, remote work has become the new norm for many American workers. As businesses across a wide range of industries have shifted to a remote…
In the wake of the pandemic, remote work has become the new norm for many American workers. As businesses across a wide range of industries have shifted to a remote…
Low- and moderate-income workers can take steps to save for retirement and earn a special tax credit. The saver’s credit, also called the retirement savings credit, helps offset part of…
As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for…
Back in late 2017 Congress passed the Tax Cuts & Jobs Act of 2017 (TCJA) that made enormous changes to income tax laws as outlined below. However, most of the…
Businesses, whether operating as a corporation, partnership, or a sole proprietorship, have been required to electronically file information returns when the aggregate number of these returns, regardless of the type…
The IRS has introduced a New Voluntary Disclosure Program that allows employers who received questionable Employee Retention Credits (ERC) to pay them back at a discounted rate. This is a…
Beginning in 2024, a special election allows a taxpayer purchasing a new clean vehicle or previously owned clean vehicle, to transfer the entirety of the allowable credit to an eligible…
As an employer or an employee one intricacy of tax laws and regulations that often goes unnoticed is the concept of Accountable Plans. These plans, when implemented correctly, can provide…
As tax time approaches, here are some tax issues that taxpayers frequently overlook, ranging from obscure deductions to overlooked tax credits and benefits. Of course, not everything can be included…
Despite warnings from the IRS, the American Institute of CPAs, and other professional tax preparer societies, many business owners have fallen victim to aggressive marketing of the Employee Retention Credit…