IRS Provides Employers Way to Withdraw Dubious ERC Claims
Many businesses have fallen victim to aggressive marketing of the ERC resulting in ineligible claims. The IRS is providing employers a way to withdraw those claims.
Research Credit Available as a Payroll Tax Credit Doubled
The Inflation Reduction Act has a provision that could benefit small business startups. It could allow them to double the research and development credit.
SECURE 2.0 Act: Should Your 401(k) Help Employees With Emergencies?
SECURE 2.0 Act kicks in next year which may allow businesses to help employees in financial emergencies through their 401(k)s.
Planning for Your Retirement – New Wrinkles from the SECURE 2.0 Act
To encourage more Americans to save for retirement, Congress designed the SECURE Act 2.0. Some of these changes could impact your retirement plan strategy.
Tax Filing Status Change This Year? Look Out for Surprises at Tax Time
A tax filing status change because of a life event such as marriage or divorce often blindsides taxpayers. Consider tax ramifications to avoid surprises.
What Will Happen When TCJA Tax Changes Sunset in 2025?
Most of the tax changes made by TCJA will expire after 2025. This will impact long range tax planning and result in a mixed bag of tax increases and cuts.
Is Hobby Income Taxable? Are Hobby Losses Deductible?
Involved in a hobby that you not only enjoy but that produces income? If so, you should know how hobby income and expenses are treated for tax purposes.