Business Owners

Podcast – BPB Knows Cryptocurrency Issues and the IRS

Posted on June 20, 2024

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 […]

IRS Sets 2025 HSA Contribution Limits by Brendan Kurpis, CPA

Posted on June 11, 2024 by Brendan Kurpis

The IRS has released the inflation-adjusted limits that qualifying taxpayers may contribute to health savings accounts (HSAs) in 2025. These triple-tax-advantaged accounts can help participants afford the rising costs of healthcare today and save for even higher expenses during retirement. Background HSAs are powerful healthcare savings tools that provide participants with the following tax benefits: […]

Podcast – BPB Knows Pass-Through Entity Tax

Posted on June 06, 2024 by Maxwell Jewell

In this episode Associate Director of Tax Services Max Jewell shares opportunities and challenges related to the pass-through entity tax and states where it can make a big tax difference.

Ransomware Attacks Continue to Rise Among Small and Mid-Size Businesses by Brandon Bowers

Posted on June 04, 2024 by Brandon Bowers

According to the latest industry reports, ransomware attacks surged in 2023, accounting for nearly one-quarter of all data breaches and costing businesses worldwide an average of $5.13 million.[1] More alarming still, businesses’ security teams detected only 33 percent of all ransomware breaches, whereas 27 percent were disclosed by the attackers, and 40 percent were uncovered […]

Florida Adds a Second Disaster-Preparedness Sales Tax Holiday for its Residents by Karen Lake, CPA

Posted on May 29, 2024 by Karen Lake

To help Floridians prepare for hurricane season, the state legislature has enacted two 14-day sales-tax holidays for the purchase of a wide variety of qualifying disaster-preparedness supplies. The first holiday runs June 1 through 14. The second one, a first in the state, is set for August 24 through September 6. During both of these […]

Protect Yourself and Your Business from Wire Fraud by Brandon Bowers

Posted on May 24, 2024 by Brandon Bowers

Wire payments continue to be one the quickest and easiest methods for individuals to send large amounts of money to others anywhere in the world. However, these electronic transfers made through banks or third-party service providers like Western Union can be rife with fraud and legal risks for the parties involved. Some of the most […]

Florida Moves Closer to Eliminating Sales Tax on Commercial Rent by Luke Lucas, CPA

Posted on May 23, 2024 by Luke Lucas

Effective June 1, 2024, Florida sales tax on rent and license fees for commercial property will be reduced from 4.5 percent to 2.0 percent, representing an estimated $1 billion in tax relief for Florida businesses. Florida is one of nine states that does not impose income tax on its residents, but it is also the […]

Podcast – BPB Knows Getting Started with Estate Planning

Posted on May 16, 2024 by Sarah Gaymon

In this episode Director of Tax Services Sarah Gaymon shares some reasons why everyone needs an estate plan and how to get started.

Category: Business Owners