Better tax break when applying the research credit against payroll taxes

Wednesday, March 06, 2024
The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to certain eligible small businesses.... Read More

If you didn’t contribute to an IRA last year, there’s still time

Wednesday, February 28, 2024
If you’re gathering documents to file your 2023 tax return and you’re concerned that your tax bill may be higher than you’d like, there might still be an opportunity to lower it. ... Read More

Update on IRS efforts to combat questionable Employee Retention Tax Credit claims

Tuesday, February 20, 2024
The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses.... Read More

The Tax Relief for American Families and Workers Act of 2024

Tuesday, February 06, 2024
The Tax Relief for American Families and Workers Act of 2024 is a legislative proposal aimed at providing financial relief to American families and workers through various tax measures. ... Read More

Reporting Cash Payments of Over $10,000

Thursday, January 25, 2024
Generally, if you're in a trade or business and receive more than $10,000 in cash in a single transaction or in related transactions, you must file Form 8300.... Read More

Federal Corporate Transparency Act (CTA)

Thursday, January 25, 2024
Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA). ... Read More

Tax-favored Qualified Small Business Corporation status could help you thrive

Wednesday, January 24, 2024
Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea.... Read More

IRS E-Filing Threshold Drops To 10 For W-2s, 1099s

Thursday, January 11, 2024
Do you e-file your W-2s and 1099s? You might have to start, thanks to the new IRS e-filing threshold.... Read More

The standard business mileage rate will be going up slightly in 2024

Wednesday, January 10, 2024
The optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up by 1.5 cents per mile in 2024.... Read More

2024 Q1 tax calendar: Key deadlines for businesses and other employers

Wednesday, December 20, 2023
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2024. ... Read More