Today, March 11, 2021, President Biden signed into law the 628-page American Rescue Plan Act (ARPA), which includes $1.9 trillion in funding for individuals, businesses, and state and local governments. […]
In a Notice, the IRS has clarified that no deduction is allowed for an expense that is otherwise deductible if both The payment of the expense results in forgiveness of […]
As you’ve probably heard, a new law was recently passed with a wide range of retirement plan changes for employers and individuals. One of the provisions of the SECURE Act […]
It is late January and you realize the 1099-MISC you receive is in error. In fact, it overstates your income by $2,000. What should you do? Gather your facts. Put yourself […]
Mileage rates for travel are now set for 2020. The standard business mileage rate decreased by 0.5 cents to 57.5 cents per mile. The medical and moving mileage rates also […]
The IRS remains on the lookout for tax scams that can blindside unsuspecting taxpayers. Now two variations of past scams are currently making the rounds. Here’s what you need to […]
Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to […]
The flat 21% federal income tax rate for C corporations under the Tax Cuts and Jobs Act (TCJA) has been great news for these entities and their owners. But some […]
To help you make sure you don’t miss any important 2018 deadlines, we’ve provided this summary of when various tax-related forms, payments, and other actions are due. Be aware that […]
Today’s businesses operate in an era of hyper-connectedness and, unfortunately, a burgeoning global cybercrime industry. You can’t afford to hope you’ll luck out and avoid a cyberattack. It’s essential to […]