Planning Ahead for 2024: Should Your 401(k) Help Employees with Emergencies?
The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be […]
Receive More than $10,000 in Cash at your Business? Here’s What You Must Do
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS […]
IRS Orders Immediate Stop to New Employee Retention Tax Credit Processing
As appearing in IRS IR-2023-169
To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Tax Credit […]
Cash Payments Over $10,000 Must Be Reported Online Beginning 1/1/2024
As reported in IRS News Release IR-2023-157
The Internal Revenue Service announced that starting 1/1/2024, businesses are required to electronically file […]
The Advantages of Using an LLC for your Small Business
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect […]
A Tax-Smart Way to Develop and Sell Appreciated Land
Let’s say you own highly appreciated land that’s now ripe for development. If you subdivide it, develop the resulting parcels and sell them […]
Corporate Officers or Shareholders: How Should You Treat Expenses Paid Personally?
If you play a major role in a closely held corporation, you may sometimes spend money on corporate expenses personally. These costs may […]
Use an S Corporation to Mitigate Federal Employment Tax Bills
If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder!
Starting a Business? How Expenses will be Treated on your Tax Return
Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports that business applications are […]
The Trust Fund Recovery Penalty: Who Can it be Personally Assessed Against?
If you own or manage a business with employees, there’s a harsh tax penalty that you could be at risk for paying personally. The Trust Fund Recovery […]
