7.31.24
New Tax Incentives for the Healthcare and Biotech Industries
The Inflation Reduction Act (IRA) of 2022 reinstated or expanded numerous tax credits and other incentives for clean and renewable energy. It also created several…
7.29.24
Business Website Expenses: How They’re Handled for Tax Purposes
Most businesses have websites today. Despite their widespread use, the IRS hasn’t issued formal guidance on when website costs can be deducted. But there are…
7.28.24
IRS Issues Final Regulations on Inherited IRAs
The IRS has published new regulations relevant to taxpayers subject to the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or other defined…
7.24.24
Evaluate the Risks of Joint Ventures Carefully
Sometimes a construction project is just too big or complex for one general contractor to handle alone. Joint ventures (JVs) enable two construction companies to…
7.24.24
Profit Fade Is a Persistent Threat to Construction Companies
“Don’t settle for second best!” Just about everyone has encountered this phrase in various commercials and ad campaigns over the years, and it’s a good…
7.24.24
Construction Business Owners Prepare Now for Possible Tax Law Changes
The Tax Cuts and Jobs Act (TCJA) was signed into law in 2017 and generally took effect at the start of 2018. It brought sweeping…
7.23.24
Fraud in Family Businesses
“They are family. They would never do that!” Our guard comes down as it is hard to imagine a family member capable of business fraud.…
7.23.24
IRS Ramps up Compliance Enforcement Against Certain Businesses
The Inflation Reduction Act provided the IRS with billions of dollars of additional funding to reduce the so-called “tax gap” between what taxpayers owe and…
7.23.24
Watch Out for Tax Misinformation on Social Media
Social media gets blamed for a lot these days — sometimes for good reason. Recently, the IRS issued a warning to individual and business taxpayers…
7.18.24
Preventing Fraud Losses Across Multiple Business Locations
If you operate your business in multiple locations (as with retail or restaurant chains), preventing fraud losses can be challenging. After all, you can’t be…