- By Katie Chrisman /
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Accountable Plans: A Win-Win for Employers and Employees
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 significant tax benefits for both employers and employees.
Under the Tax Cuts and Jobs Act (TCJA) signed into law by President Trump in 2017, the …
Obscure and Overlooked Tax Deductions, Credits, and Benefits
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 since the tax law has grown significantly in complexity, and it would take a thick book to list everything. But besides what you are …
The Flash – IRS Provides Employers Way to Withdraw Erroneous ERC Claims
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 (ERC) by marketers or promoters into filing ineligible claims.
As part of a larger effort to protect small businesses and organizations from scams, the IRS …
How To Protect Your Business Cash During Banking Uncertainty
While bank failures are rare in the grand scheme of things, they can and do happen – as recent events like the closure of Silicon Valley Bank go a long way towards proving. When these types of bank failures do occur, they can be catastrophic. They happen quickly and often without warning, leaving business …
Is an SBA(7) Loan Right for Your Business?
It’s safe to say that the millions upon millions of small and mid-sized businesses operating right now are the true foundation of the United States economy. But whether you’re a seasoned veteran or are a new entrepreneur looking to journey out on your own for the first time, it’s important to understand the options …
Procrastinating on Filing Your Taxes?
If you have been procrastinating about filing your 2022 tax return or have not filed other prior year returns, you should consider the consequences, including the penalties, interest, and aggressive enforcement actions. Plus, if you have a refund coming for a prior year you may end up forfeiting it.
If you haven’t filed your return …
Employer-Offered Benefits That Can Save You Money and Taxes
Tax law includes several tax and financially favored benefits that employers can offer or provide to their employees. This article is intended to make you aware of these perks, with the caveat that all employers, especially small businesses, may not provide all, or perhaps any, of these covered perks. But whichever of these benefits …