Employer Absolved from Income Tax Liability After Granted IRS Records
In a unanimous ruling, the Tax Court has made it easier for employers to absolve income tax liability for reclassified employees. A recent court case set a key tax decision...
New Regulations for Internal-Use Software and R&D Credit
Due to recently finalized regulations, companies that develop software for their own internal use may now be able to qualify for the Research and Development (R&D) credit. Under T.D. 9786...
Year-End Tax Planning for Businesses
The end of 2015 introduced changes to the tax code that may affect your business this year. While planning for 2017 and beyond will provide uncertainty until after the elections, strategic year-end tax planning...
2015 Year-End Tax Planning for Businesses
With the end of 2015 in sight, businesses have already started to gear up for next year, and with that, comes year-end tax planning. We will discuss what business tax...
Rules on Deducting Business Start-Up Expenses
A recent U.S. Tax Court decision drives home the important point that current deductions aren't allowed for most expenses incurred while a new business is still in the start-up phase....
2014 Year-End Tax Planning for Businesses
It is that time of year to start thinking about your year-end tax planning. Let's dive into a few business-related topics that you should consider as you begin planning for your business. Final Tangible...
California Competes Credit Offers an Incentive to Keep Businesses in the State
Are you looking to start a business in California or considering whether or not to keep your business in California? In an effort to retain current businesses and attract new ones, the...
New Year…New Company? The Differences Between LLCs, C Corps and S Corps
As we continue making plans for the New Year, you may be looking at your business with a fresh eye and realizing that it may be time for a change in the structure of your business....
IRS Debuts Final Repair Regs
To expense or capitalize? That is the question companies face when they acquire, produce or improve tangible property. The IRS recently released its final framework for distinguishing between deductible costs...
2013 Year-End Tax Planning for Businesses
I hope that you had the opportunity to read Elizabeth's blog article, where she discussed tax planning strategies for individuals. In this blog, we will cover items pertaining to businesses....
Update on the Corporate Transparency Act: Court Suspends Reporting Requirements for Businesses
Less than one month before the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting deadline, a U.S. District Court ruled that requirements exceed Congress’s authority under the Commerce Clause...
Year-End Tax Planning for Businesses
After a few years of relatively mild tax changes for most businesses, post-election results provide more clarity on the direction of future policy—with a confluence of expiring tax provisions, a...
Corporate Transparency Act: What Small Businesses and Trusts Need to Know About New Reporting Requirements
Effective January 1, 2024, millions of privately-owned non-exempt corporations, limited liability companies and limited partnerships will be subject to new reporting obligations under the Corporate Transparency Act (CTA), a new...
2022 Year-End Tax Planning for Businesses
It’s the time of year when we’re immersing ourselves in fall sports, thinking about the holiday season, preparing budgets for next year, and of course, planning year-end tax strategies....
The Inflation Reduction Act and What It Means for You
The Inflation Reduction Act (the Act) was recently signed into law on Aug. 16 and contains a number of provisions to increase IRS funding, raise taxes on large corporations, incentivize...
Important Changes to California’s Elective Pass-Through Entity Tax
California recently revised its SALT cap workaround to be more appealing for qualifying owners of S corporations and partnerships. On February 9, California’s governor signed into law Senate Bill 113...
Employees in Other States? Here are the Top Tax Implications to Consider
Return-to-office plans remain in a state of limbo as some employers find that a remote work strategy is a viable option long term. What are the tax implications for businesses...
Year-End Tax Planning for Businesses
2021 brought a wave of new tax changes for businesses, and 2022 could bring yet another surge. With the end of the year in sight, there’s a window of opportunity...
On Your Mark, Small Businesses: Get Set to Reserve the 2021 Main Street Hiring Credit
The Main Street Hiring Credit has been reenacted for 2021, bringing financial relief to small businesses disrupted by COVID. Qualifying small businesses can reserve their credit between Nov. 1 –...
How to Claim the Employee Retention Tax Credit
Congress created an employee retention tax credit to retain employees on their payroll during the pandemic. Recent updates to the incentive have made it even more appealing for businesses.Originally introduced...