IRS Issues Guidance Related to the New Clean Vehicle Critical Mineral and Battery Components
As appearing in IRS Newswire IR-2023-64
The Internal Revenue Service just issued a proposed regulation […]
Awarded Money in a Lawsuit or Settlement? It’s Only Tax-Free in Certain Circumstances
You generally must pay federal tax on all income you receive but there are some exceptions when you can exclude it. For example, compensatory […]
Turn That Fraud Dispute into a Loyalty-Building Opportunity
If customers report fraud or suspicious charges on their accounts, what might seem like a challenge can actually be an opportunity for your business. Handle these disputes […]
Buying a New Business Vehicle? A Heavy SUV is a Tax-Smart Choice
If you’re buying or replacing a vehicle that you’ll use in your business, be aware that a heavy SUV may provide a more generous tax break this […]
IRS Provides Roadmap on How to Value a Private Business
Revenue Ruling 59-60 is a landmark piece of IRS guidance that outlines the factors to consider when estimating the fair market value of a […]
Do You Run a Business from Home? You May be Able to Deduct Home Office Expenses
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid […]
There Still May be Time to Make an IRA Contribution for Last Year
If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower […]
May 15 Tax Deadline Extended to October 16 for California Disaster Area Taxpayers
As reported in IR-2023-33 on 2/24/2023
Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and […]
Child Tax Credit: The Rules Keep Changing But It’s Still Valuable
If you’re a parent, you may be confused about the rules for claiming the Child Tax Credit (CTC). The rules and credit amounts have changed significantly over […]
Key Tax Issues in M&A Transactions
Merger and acquisition activity dropped dramatically last year due to rising interest rates and a slowing economy. The total value of M&A transactions in […]
