Business Owners

The Deadline for Corporate Transparency Act Reporting is Fast Approaching – Have You Filed? by Joel G. Young, JD, LLM

Posted on August 23, 2024 by Joel Young

The Corporate Transparency Act (CTA)introduced a new requirement for existing corporations, LLCs, and some partnerships and business trusts to file by January 1, 2025, beneficial ownership information reports (BOIR) disclosing the identities of the individuals behind those entities. For companies established after January 1, 2024, an initial BOIR must be filed within 90 days of […]

IRS Updates Guidance Related to Foreign Gains and Losses Under Section 987 by Jairan Shirazi

Posted on August 07, 2024 by Jairan Shirazi

One of the more challenging tax reporting requirements for multinational businesses is the translation of gains and losses of their foreign branch offices and qualified business units (QBUs) into their home country’s functional currency. This process is often complicated by exchange rate fluctuations, including currency devaluations, that can have a material impact on the principal […]

Podcast – BPB Knows Electric Vehicle Tax Credits

Posted on August 01, 2024 by Brendan Kurpis

In this episode, associate tax director Brendan Kurpis explains electric vehicle tax credits and the common missteps.

Could Your Employees Identify and Stop a Phishing Attempt? by Brandon Bowers

Posted on July 25, 2024 by Brandon Bowers

Businesses and their employees are constantly bombarded by a rising threat of email and text scams that have resulted in millions of dollars in security breaches, lost data, stolen money, interruption to normal business operations and longer-term reputational damage. While businesses should bolster their defenses with a range of cybersecurity hardware and software solutions, they […]

Is Cash or Accrual Accounting Best for My Business Structure? by Shanna Shim, CPA

Posted on July 10, 2024 by Shanna Shim

Small and midsize businesses generally have two options for maintaining their financial books and records: the cash and accrual methods of accounting. While each approach offers businesses unique benefits at different stages of their life cycles, business owners must recognize when they should transition from one method of financial accounting to the other. The cash […]

Podcast – BPB Knows Non-Competes and M&A Transactions

Posted on July 03, 2024 by Fabio De Filippo

In this episode, Fabio De Filippo explains the recent ruling that bans non-competes, the M&A exemption and what might happen when the law goes into effect.

M&A Deals Escape FTC Ban on Noncompete Agreements by Fabio De Filippo, CPA

Posted on June 24, 2024 by Fabio De Filippo

On April 23, 2024, the Federal Trade Commission (FTC) issued a final rule banning businesses nationwide from entering into noncompete agreements with most new employees beginning on Sept. 24, 2024, and nullifying the enforcement of existing noncompetition clauses in most employer/employee contracts. This rule, which is facing a mountain of lawsuits, will require buyers and […]

Podcast – BPB Knows Cryptocurrency Issues and the IRS

Posted on June 20, 2024 by Jonathan Menna

On this episode Associate Director of Tax Services Jonathan Menna shares the latest tips and traps for cryptocurrency investors.

Understanding the Basic Building Blocks of Cybersecurity by Brandon Bowers

Posted on June 17, 2024 by Brandon Bowers

The frequency and sophistication of cybersecurity attacks continue to intensify, leaving businesses, governments and not-for-profits with an ever-present risk of falling victim to data breaches. These data breaches can impact normal business operations and erode public trust, leading to irreparable reputational damage, loss of customers and even litigation, fines and penalties. While no one tool […]

New Research & Experimental Tax Deduction Guidance, Proposed Legislation by Mark Leaheey, CPA, CGMA, MSA

Posted on June 14, 2024 by Mark Leaheey

The research and experimental (R&E) tax deduction under Section 174 of the Tax Code has been a boon to U.S. businesses since its introduction in 1954. However, the rules for how taxpayers may claim a benefit for these costs changed in 2022, restricting short-term cash flow. Now, two years later, Congress may have found a […]

Category: Business Owners