5.16.24
IRS Issues Guidance on Tax Treatment of Energy Efficiency Rebates
The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adoption of a range…
5.16.24
The “Nanny Tax” Must Be Paid for Nannies and Other Household Workers
If you employ a household worker who isn’t an independent contractor, you may be required to withhold from the worker’s wages and pay Social Security…
5.16.24
To Get an “Early” Refund, Adjust Your Withholding
If you received a large refund this year, you may want to adjust your withholding. Each year, millions of taxpayers claim an income tax refund.…
5.16.24
Three Ways Your Business Can Uncover Cost Cuts
Every business wants to cut costs, but it sure isn’t easy. We’re talking about clear and substantial ways to lower expenses, thereby strengthening cash flow…
5.13.24
The Tax Advantages of Including Debt in a C Corporation Capital Structure
Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more…
5.7.24
Tax Bill Currently Stalled in Congress and Its Effect on Manufacturer’s Income Taxes and Investment in Research and Development
On January 31, 2024, the House of Representatives passed the Tax Relief for American Families and Workers Act of 2024 (HR 7024). This legislation is…
5.7.24
Federal Regulators Expand Overtime Pay Requirements, Ban Most Noncompete Agreements
The U.S. Department of Labor (DOL) has issued a new final rule regarding the salary threshold for determining whether employees are exempt from federal overtime…
5.6.24
Tax Considerations When Adding a New Partner at Your Business
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are…
4.29.24
When Partners Pay Expenses Related to the Business
It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as…
4.29.24
The Importance of Working Capital in the Construction Industry
What is working capital? What does it mean, and why is it important to your business? Working Capital Ratio = Current Assets / Current Liabilities…