Business Consulting and Planning

Florida Businesses Can Claim Tax Credits for Student Interns by Karen A. Lake, CPA

Posted on April 19, 2023 by Karen Lake

For tax years 2022 and 2023, businesses located in Florida may claim an Internship Tax Credit of up to $2,000 per student, per year, for up to five student interns they hire from one of the state’s public universities or colleges. That translates to as much as $10,000 a year in tax credits qualifying businesses […]

Businesses with R&D Expenditures Must Prepare for the Risk of Higher Taxes by Karen A. Lake, CPA

Posted on March 27, 2023 by Karen Lake

Congress closed out another year without restoring taxpayers’ ability to fully deduct research and development (R&D) expenditures in the year incurred, a taxpayer-friendly provision of the Internal Revenue Code that had been in place for nearly 70 years before 2022. This change has had significant implications for many businesses that were again surprised to find […]

IRS Sets Standard Mileage Rates for Use of a Vehicle in 2023 by Steven Rubin, CPA

Posted on March 23, 2023 by Steven Rubin

With the start of a new year, the IRS announced the inflation adjustments taxpayers may use to determine the deductible costs of operating a motor vehicle for business, charitable and medical purposes. Alternatively, taxpayers may calculate these deductible expenses based on the actual costs they incur to use their vehicles. Effective Jan. 1, 2023, the […]

Podcast – BPB Knows Succession Planning

Posted on March 02, 2023 by Richard Berkowitz

In this episode, business advisor Richard Berkowitz shares things entrepreneurs need to think about long before it is time for them to retire, sell or cash out.

Podcast – BPB Knows Business Structures

Posted on February 16, 2023 by Richard Cabrera

In this episode, Director of Tax Services Richard Cabrera explains the options for business structures and how entrepreneurs should choose.

Secure Act 2.0 Brings Big Changes to Retirement Planning in 2023 and Beyond by Jonathan Kraes, CPA

Posted on February 07, 2023 by Jonathan Kraes

Congress closed out 2022 with the passage of a $1.7 trillion spending bill that, among other things, ushers in new rules and regulations intended to help more Americans save for retirement. Following is a brief overview of some of the more significant changes individual taxpayers should prepare for beginning in 2023. Raises the Age for […]

Businesses, Nonprofits Have Until 2024 to Claim Valuable Employee Retention Tax Credits by Andreea Cioara, CPA

Posted on January 12, 2023 by Andreea Cioara

When COVID-19 set off a domino effect of business closings in March 2020, the U.S. government responded with a series of economic stimulus programs to help affected organizations stay afloat. Now, as we enter 2023, one of those relief measures is still available for businesses and nonprofits to apply for retroactively when they meet eligibility […]

UPDATED – How Can Taxpayers Prepare for New Corporate Transparency Act Reporting? by Joel G. Young, JD, LLM

Posted on January 04, 2023 by Joel Young

UPDATED – On March 2, 2025, the Department of Treasury announced CTA will be narrowed to only foreign reporting companies. 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. […]

Leading and Growing Company Culture in Hybrid and Remote Work Environments by Richard A. Berkowitz, JD, CPA

Posted on December 28, 2022 by Richard Berkowitz

COVID-19 literally forced businesses to close their doors in 2020 and begin the process of adapting to remote-work arrangements. With many companies reporting surprisingly higher levels of productivity and profitability, the economics of the new paradigm have been favorable. Today, however, as it becomes clear that hybrid work schedules are here to stay, businesses are […]

UPDATE: IRS Delays Reporting Requirement for Transactions Involving Venmo and other Payment Apps by Savannah Snow, CPA

Posted on December 17, 2022 by Savannah Cabrera Snow

Mobile payment processing apps, such as PayPal, Venmo, Cash App and Square, have made it easy for friends and family to send and receive payments as gifts or reimbursements for shared expenses. These platforms have also spread to the commercial sector, where many businesses accept them as forms of payment for goods and services. It […]

Category: Business Consulting and Planning