Posted on May 18, 2022
The pandemic has spurred a tsunami of entrepreneurial new businesses. According to the U.S. Census Bureau, a record 5.4 million new business applications were filed in 2021, compared to 4.4. million in 2020 compared to 3.5 million before the pandemic in 2019. Whether these ventures will prove successful remains to be seen, but each one […]
Posted on May 05, 2022
In this episode Director of Tax Services Karen Lake shares information about SALT, state and local tax credits, work opportunity tax credits and more.
In this episode Director of Forensic and Advisory Services Scott Bouchner explains business valuations, when they are useful and how to get started.
Posted on April 05, 2022
At the end of 2021, the IRS issued new guidance for certain passthrough entities and other taxpayers to use for purposes of reporting applicable partnership interests (API) held in connection with the performance of services, also referred to as “carried interest.” The guidance, provided in the form of frequently asked questions (FAQs), updates final regulations […]
The IRS, buried under millions of unprocessed tax returns from tax year 2020, is suspending the automatic mailings of certain letters and notices it usually generates when it identifies individuals and businesses that failed to file required tax returns or that owe additional taxes. The announcement comes just weeks after the IRS began accepting tax […]
Posted on March 18, 2022
Before filing your 2021 individual tax returns, consider if there is anything else you can do to reduce the taxes you owe Uncle Sam. While your annual tax liability is based primarily on the income you earned and the actions you took before December 31, 2021, you may qualify for a last-minute opportunity to cut […]
Posted on March 17, 2022
In this episode Real Estate Tax Director John Ebenger shares an overview of 1031 exchanges, a tax deferral strategy for real estate investors.
In this episode Director of Tax Services Andrew Leonard shares the latest in ERTC deadlines and requirements.
Posted on February 17, 2022
Mobile-payment-processing apps, such as PayPal, Venmo, Cash App and Square, have made it easy for friends and family to send and receive payments as gifts or reimbursements for shared expenses. The use of these platforms has also spread to the commercial sector, where a growing number of businesses accept them as forms of payment for […]
Posted on February 14, 2022
Plaintiffs seeking compensatory and punitive damages for physical injury or mental distress often fail to recognize the tax implications of the lawsuit damages awarded to them. That information typically is revealed by legal counsel, who must have a firm understanding of the nuances of the U.S. tax code and, more importantly, how to apply those […]