Posted on September 25, 2024
by
Joseph Leocata
The IRS announced in August the reopening of a voluntary disclosure program (VDP) to help taxpayers fix and repay incorrect Employee Retention Tax Credit (ERC) claims without penalties, interest or criminal charges. Congress introduced the ERC in 2020 to provide businesses and nonprofits with economic assistance during the COVID pandemic. The ERC-VDP will run through […]
Posted on September 19, 2024
by
Shanna Shim
In this episode, accounting systems advisor Shanna Shim shares some of the hidden costs of old software and what business owners should consider when their accounting systems are holding them back.
Posted on September 17, 2024
by
Mark Leaheey
On Aug. 1, 2024, the U.S. Senate failed to pass a tax bill that, among other things, would have restored businesses’ ability to fully deduct specified research and experimental (SRE) expenses in the tax year they are incurred. As a result, businesses that invest in innovation must continue to capitalize and amortize those costs over […]
Posted on September 12, 2024
by
Andrew Leonard
The IRS scored significant wins in two separate cases before the U.S. Supreme Court and D.C. Court of Appeals. While both matters addressed different provisions of the tax code, the court’s decisions essentially fortified the IRS’s international reach and its ability to enforce compliance with various U.S. tax laws regarding taxpayers’ foreign investments and business […]
Posted on September 11, 2024
by
Shanna Shim
When small and mid-size businesses assess their existing accounting systems, the adage “if it ain’t broke, don’t fix it” often comes to mind. After all, if employees are comfortable working with a solution that continues to function the way it is supposed to, why spend the dollars and resources to find and deploy a new […]
Posted on September 05, 2024
by
Melissa Fleitas
In this episode, employee benefit plan audit expert Melissa Fleitas explains some of the changes plan sponsors will need to comply with in the next few years.
Posted on September 03, 2024
by
Brandon Bowers
Falling victim to a data breach that involves unauthorized access to a company’s confidential information can be especially costly for small and mid-size businesses in terms of lost revenue, loss of productivity and reputational damage. Yet even as the number of small businesses impacted by cyberattacks continues to rise, less than half have adopted cybersecurity […]
