Posted on January 22, 2024
by
Steven Rubin
The IRS announced the inflation adjustments taxpayers may use to determine the deductible costs of operating a motor vehicle for business, charitable and medical purposes in tax year 2024. Taxpayers also have the option to calculate these expenses based on the actual costs they incur to use their vehicles. Effective Jan. 1, 2024, the standard […]
Posted on January 18, 2024
by
Joel Young
In this episode Associate Director of Tax Services Joel Young shares the background of the Corporate Transparency Act and who business owners will need to report.
The IRS released the annual cost-of-living adjustments to various provisions of the tax code for 2024. Marginal Income Tax Rates The following seven tax rates apply to income individuals earn in 2024. 37 percent for individual single taxpayers with incomes greater than $609,350 ($731,200 for married couples filing jointly) 35 percent for incomes over $243,725 […]
Posted on January 04, 2024
by
Joseph Saka
In this episode, head of recruiting Mari-Luque Hanchett talks about what makes a successful recruiting strategy and how we assist clients in filling executive and professional roles.
Posted on December 27, 2023
by
Jonathan Kraes
The IRS’s 2024 cost-of-living adjustments for retirement savers include higher annual contribution limits to 401(k) plans and Individual Retirement Accounts (IRAs) along with higher income limits for individuals to qualify for tax-deductible contributions to traditional IRAs and taxable contribution to Roth IRAs. Employer-Sponsored Retirement Plans In 2024, employees may contribute up to $23,000 into workplace […]
Posted on December 12, 2023
by
Jonathan Menna
It has been nearly 10 years since the IRS first announced in Notice 2014-21, 2014-16 I.R.B 938 it would treat cryptocurrency as a capital asset for federal tax purposes, subject to the same general tax principles as other forms of property, including stocks and bonds. Two recent developments are significant in helping the agency crackdown […]
Many businesses are tightening their flexible work policies, trying to coax remote employees to return to their offices in person to collaborate with their peers and build their careers. One of the unique ironies of this past summer occurred when Zoom, the videoconferencing platform that kept workers connected throughout the pandemic, announced it would require […]
Posted on November 07, 2023
by
Debra Sears
Cash is king, especially when it comes to small businesses. An entrepreneur’s ability to effectively manage cash flow ultimately can mean the difference between success and failure. To keep the cash flow engine operating at optimal performance through economic headwinds, such as rising interest rates and tightening of credit availability, business owners should consider the […]
Posted on October 31, 2023
by
Brent Leslie
The Financial Account Standards Board (FASB) recently voted to approve a new accounting standard that will require U.S. businesses to disclose significantly more details about their global income tax liabilities beginning as early as 2025. The move is a part of the FASB’s larger effort to improve the effectiveness of disclosures in the financial statement […]
Posted on October 19, 2023
by
Joseph Leocata
In this episode Joseph Leocata shares details about the current state of the IRS, trends in tax controversy and what to do if you receive an IRS notice.
