Key 2024 inflation-adjusted tax amounts for individuals

Tuesday, February 13, 2024
The IRS announced various 2024 inflation-adjusted federal tax amounts that affect individual taxpayers.Most of the federal income tax rate bracket thresholds are about 5.4% higher than for 2023. That means...... Read More

A cost segregation study may cut taxes and boost cash flow

Monday, February 12, 2024
Is your business depreciating over 30 years the entire cost of constructing the building that houses your enterprise? If so, you should consider a cost segregation study. It may allow...... Read More

New reporting rule for online payment processors delayed

Friday, February 09, 2024
For the second consecutive year, the IRS has postponed implementation of a new rule that would have led to an estimated 44 million taxpayers receiving tax forms from payment apps and online...... Read More

FASB Issues New Segment Expense Disclosure Rules

Thursday, February 08, 2024
On November 27, 2023, the Financial Accounting Standards Board (FASB) issued updated accounting rules on segment reporting. The guidance concludes several years of discussions aimed at providing investors with better...... Read More

11 Exceptions to the 10% penalty tax on early IRA withdrawals

Tuesday, February 06, 2024
If you’re facing a serious cash shortfall, one possible solution is to take an early withdrawal from your traditional IRA. That means one before you’ve reached age 59½. For this...... Read More

Choosing a business entity: Which way to go?

Monday, February 05, 2024
If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you operate as a C...... Read More

ERTC relief program for employers unveiled

Friday, February 02, 2024
Since July 2023, the IRS has taken a series of actions in response to what it has termed a “flood of ineligible claims” for the Employee Retention Tax Credit (ERTC). Most...... Read More

Why it is Important to Track Tools and Small Equipment?

Thursday, February 01, 2024
Is your business constantly replacing its tools and small equipment? Certain items that can fit in a backpack, pocket or even the armrest of a vehicle — such as power...... Read More

What you need to know about restricted stock awards and taxes

Tuesday, January 30, 2024
Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead of stock option awards. The reason: Options can lose most or...... Read More

What types of expenses can’t be written off by your business?

Monday, January 29, 2024
If you read the Internal Revenue Code (and you probably don’t want to!), you may be surprised to find that most business deductions aren’t specifically listed. For example, the tax...... Read More