Posted on August 20, 2024
by
Steven Rubin
The IRS has extended until Feb. 3, 2025, various tax-filing and tax-payment deadlines for individuals and businesses recently impacted by Hurricane Debbie, which first made landfall on Florida’s Gulf Coast in early August. The postponed deadline applies automatically to taxpayers with homes or businesses located in the following jurisdictions declared as federal disaster areas: Florida: […]
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 […]
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 […]
Posted on June 20, 2024
On this episode Associate Director of Tax Services Jonathan Menna shares the latest tips and traps for cryptocurrency investors.
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 […]
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.
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 […]
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 […]
Posted on April 30, 2024
by
Joseph Saka
Businesses spend significant time and resources recruiting and hiring professionals for accounting and finance positions. In the current job market, the entire process can take more than six months. To reduce these burdens and enable your company’s executives to focus their efforts on growing your business, consider working with a third-party recruiting firm specializing in […]
In this episode Director of Tax Services Richard Cabrera explains why it’s important for S Corps to consider the tax implications before entertaining bankruptcy proceedings.
