In this episode, Director of Managed Cyber Solutions Brandon Bowers explains how companies can protect themselves from ransomware attacks and the steps business owners should take if they are impacted.
UPDATED – On December 3, 2024, a federal court in Texas ruled that the CTA is likely unconstitutional and prohibited its enforcement. This set off a review, injunction and follow-up hearing date in March 2025. Until the courts sort it out, companies are no longer required to report by the original deadlines. We are watching […]
The IRS recently launched a new unit committed to enforcing U.S. tax laws among pass-through entities, such as S corporations, partnerships and trusts, whose income passes from the business to its owner’s individual tax returns where taxes are due at the owners’ marginal income tax rates. The move is part of the agency’s broader focus […]
UPDATED – On December 3, 2024, a federal court in Texas ruled that the CTA is likely unconstitutional and prohibited its enforcement. This set off a review, injunction and follow-up hearing date in March 2025. Until the courts sort it out, companies are no longer required to report by the original deadlines. We are watching […]
The people you name to administer your trusts play a pivotal role in protecting your assets. Not only do they have the fiduciary duties to make prudent investment decisions and manage the distribution of trust assets as specified in your trust agreements, but they are also legally responsible for ensuring beneficiaries receive a full accounting […]
The IRS today is providing tax relief for individuals and businesses affected by Hurricane Helene and Hurricane Milton by extending various tax-filing and tax-payment deadlines to May 1, 2025. The delayed deadline applies automatically to taxpayers with homes or businesses in jurisdictions declared federal disasters by the Federal Emergency Management Agency (FEMA), which includes the […]
As your business grows with new customers, products or service offerings, your expenses will likely increase. How you manage these liabilities can significantly impact your operation’s cash flow, credit ratings, risk of fraud and your relationships with vendors and suppliers. The key to ensuring a healthy financial picture is learning how to analyze your accounts […]
Operating a business can be expensive, and it can be challenging for businesses to know when they can write off certain expenses, especially with a frequently changing tax code. One particularly puzzling area of the law concerns the rules for deducting the costs of business-related meals and entertainment, which have evolved over the past few […]
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.
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 […]