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The IRS Is Auditing ERC Claims. Here Is How to Know If Yours Is at Risk.
The IRS is actively auditing ERC claims. Here is how to evaluate whether your claim is at risk and what options are available if you have concerns about eligibility.
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Unlock a $150,000 Tax Credit for Your Business with Employer-Provided Childcare
IR-2024-34, February 7, 2024, WASHINGTON — The Internal Revenue Service (IRS) introduces a comprehensive guide for businesses on leveraging the Employer-Provided Childcare Tax Credit, a significant fiscal incentive designed to support employers in offering childcare services. With a potential credit of up to $150,000, this initiative not only aids in covering the costs associated with…
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Essential Guide to Reporting Cryptocurrency and Digital Assets on Your Tax Return
IR-2024-18, January 22, 2024, WASHINGTON — As cryptocurrencies and digital assets continue to play a significant role in the financial landscape, the Internal Revenue Service (IRS) underscores the importance of accurately reporting all digital asset-related income for the 2023 tax filing season. This requirement aligns with the ongoing efforts to ensure transparency and compliance within…
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Tax Season 2024 Opens: What Business Owners Need to Know Before Filing
The 2024 filing season is open. Here are the key deadlines, changes for 2023 returns (bonus depreciation, R&D amortization, mileage rates), and common mistakes to avoid.
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Year-End Tax Planning for 2023: Key Moves Before December 31
Year-end tax planning for 2023: accelerate expenses, maximize retirement contributions, use 80% bonus depreciation, and review your estimated tax position before December 31.
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The IRS Is Hiring Thousands of New Agents. What It Means for Your Audit Risk.
The IRS is expanding its enforcement workforce with IRA funding. Here is where the new resources are going and how to protect your business from increased audit risk.
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The International Role of the U.S. Dollar, Post-COVID Edition
the federal reserve released a Post Covid edition of their research on the role of the US Dollar this week. Here is the summary of the report along with a link to the full report The U.S. dollar has maintained its dominant role in the global economy due to the strength of the U.S. economy,…
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SECURE 2.0 Is in Effect: Five Retirement Plan Changes Every Business Owner Should Use
SECURE 2.0 creates new retirement plan opportunities for small businesses: starter 401(k)s, enhanced tax credits, auto-enrollment, and Roth employer contributions.
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ERC Promoters Are Everywhere. Here Is How to Tell If Your Business Actually Qualifies.
ERC promoters are targeting businesses aggressively. Here is how to evaluate the real eligibility requirements and avoid filing a claim that could trigger IRS penalties.
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Fraudsters Posing as Brokers or Investment Advisers – Investor Alert
An older post from the SEC though the information is just as relevant today. These scams are still active today! The FBI Criminal Investigative Division and the United States Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) warn of fraudsters swindling investors while pretending to be registered brokers or investment advisers. Fraudsters…
