Tax-Favored Qualified Small Business Corporation Status Could Help Your Thrive
Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea.
Does Your Business Have Employees Who Get Tips? You May Qualify for a Tax Credit
If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving the Social […]
Defer a Current Tax Bill with a Like-Kind Exchange
If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the […]
Treasury and IRS Issue Guidance on the Qualified Alternative Fuel Vehicle Refueling Property Credit
As reported via IR-2024-16 on 1/19/2024
The Internal Revenue Service and the Department of the Treasury today issued
FinCEN Alerts BOI Reporting Companies to Fraud Attempts
As the Financial Crimes Enforcement Network (FinCEN) opens its beneficial ownership information (BOI) reporting portal, its BOI webpage, reflects a fraud alert for individuals and […]
New Beneficial Ownership Reporting Requirements Effective 1/1/24
Starting in 2024 newly formed, corporations, limited liability companies (LLCs), limited partnerships, and other entities that file formation papers with a state’s Secretary of State’s office (or […]
IRS Lets Employers Repay Questionable ERTC Claims at a Discounted Rate
As reported via IR-2023-247 on 12/21/2023
As part of an ongoing initiative aimed at combating dubious Employee Retention Tax Credit (ERTC) claims, the […]
IRS Continues Dissuading Questionable ERTC Claims
As reported via IR-2023-230 on 12/6/2023
The Standard Business Mileage Rate Goes Up Slightly in 2024
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents […]
