Posted on August 11, 2022
Master limited partnerships (MLPs) are publicly traded businesses that usually make periodic distributions of their tax-advantaged income to the limited partner owners to avoid corporate taxes. Most often they operate in the traditionally stable energy and natural resource industries, which provide partners with a steady income stream and predictable returns. In fact, as of July […]
Posted on August 02, 2022
During the last week of July, Democrats in the U.S. Senate introduced the Inflation Reduction Act of 2022, which provides a new package of spending and tax measures designed to decrease the federal deficit while expanding adoption of clean energy, health insurance coverage and IRS compliance efforts. Among the policy changes recommended to help pay […]
The July 31 deadline for businesses to file annual employee benefit plan returns (or request a two and a half month filing extension) is right around the corner. While all employers offering defined contribution plans will find a few changes to the information reporting requirements found on IRS Form 5500, those with 100 or more […]
Posted on June 02, 2022
In this episode Director of Consulting Services Steve Nouss explains the various types of SOC reports. Companies that have their processes reviewed under SOC standards give peace of mind to vendors and customers.
June 1 marks the start of the Atlantic hurricane season and the potential for tropical force winds and heavy rainfall to damage property and impede business operations. The key to minimizing losses and getting your company back up and running after a storm is to have an actionable plan in place before the National Weather […]
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 […]