Best Practices for Expense Reporting

Thursday, August 15, 2024
When it comes to expense reporting, maintaining stringent financial controls is crucial for running a profitable business. It involves closely monitoring employee expenditures on behalf of the company to track...... Read More

IRS Warns of New Red Flags for Employee Retention Credit Claims

Wednesday, August 14, 2024
As the IRS intensifies its scrutiny of Employee Retention Credit (ERC) claims, it has identified five new warning signs of incorrect filings. This is in addition to seven previously highlighted...... Read More

What might be ahead as many tax provisions are scheduled to expire?

Tuesday, August 13, 2024
Get ready, America: Significant tax changes are looming ahead. These changes are driven by upcoming elections and shifts in tax law.Our current situationThe Tax Cuts and Jobs Act (TCJA), which...... Read More

Inflation increases the 2025 limits for Health Savings Accounts

Monday, August 12, 2024
The IRS has issued updated guidance on the inflation-adjusted amounts for Health Savings Accounts (HSAs) in 2025. These adjustments, announced earlier in the year than other inflation-adjusted figures, enable employers...... Read More

Timelines: 3 Approaches to Succession Planning for Business Owners

Friday, August 09, 2024
Business owners are strongly encouraged to create succession plans to facilitate the smooth transition of their companies to the next generation or another form of ownership, ensuring continued success.Ideally, the...... Read More

Ending Purchase Order Chaos: Implementing a Structured Approval Process

Thursday, August 08, 2024
When it comes to hiring contractors, purchasing equipment, or paying vendors, many businesses encounter challenges with the procurement process. Here are some tips for simplifying and improving your company’s purchase...... Read More

Taxability of Credit Card Processing Fees for Retailers

Wednesday, August 07, 2024
The Tax Policy Division has issued a crucial memo to the Audit Division clarifying the taxability of credit card processing fees. This guidance addresses the claims made by some retailers...... Read More

Social Security Tax Update: How High Could It Go?

Tuesday, August 06, 2024
Employees, self-employed individuals, and employers all contribute to Social Security tax, which can increase annually. Despite this, many individuals lack a comprehensive understanding of their Social Security tax obligations.If you’re...... Read More

Should you convert your business from a C to an S corporation?

Monday, August 05, 2024
Selecting the appropriate business entity carries various implications, impacting your tax liability. The most prevalent business structures are sole proprietorships, partnerships, limited liability companies, C corporations, and S corporations.Occasionally, a...... Read More

Could conversational marketing speak to your business?

Friday, August 02, 2024
Businesses have been encouraged to engage in active conversations with their customers and prospects for quite some time. However, these interactions often proved time-consuming. For instance, you may have distributed...... Read More