Business Owners

Florida Moves Closer to Eliminating Sales Tax on Commercial Rent by Luke Lucas, CPA

Posted on May 23, 2024 by Luke Lucas

Effective June 1, 2024, Florida sales tax on rent and license fees for commercial property will be reduced from 4.5 percent to 2.0 percent, representing an estimated $1 billion in tax relief for Florida businesses. Florida is one of nine states that does not impose income tax on its residents, but it is also the […]

Podcast – BPB Knows Getting Started with Estate Planning

Posted on May 16, 2024 by Sarah Gaymon

In this episode Director of Tax Services Sarah Gaymon shares some reasons why everyone needs an estate plan and how to get started.

IRS Makes changes to EO Determination Letters for 501(c)(3)s by Adam Cohen, CPA

Posted on May 14, 2024 by Adam Cohen

Earlier this year, the IRS introduced Rev. Proc. 2024-5, which requires public charities organized as 501(c)(3)s to follow new procedures when requesting IRS reclassification as a different tax-exempt entity. Nonprofit entities seeking tax-exempt status generally must file Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, within 27 months […]

Benefits of Working with Recruiting Specialists to Fill Finance, Accounting Positions by Mari Luque-Hanchett

Posted on April 30, 2024 by Joseph Saka

Businesses spend significant time and resources recruiting and hiring professionals for accounting and finance positions. In the current job market, the entire process can take more than six months. To reduce these burdens and enable your company’s executives to focus their efforts on growing your business, consider working with a third-party recruiting firm specializing in […]

Are you Ready for Tax Changes Ahead? by Michael Brennan, CPA

Posted on April 25, 2024 by Michael Brennan

Many of the taxpayer-friendly provisions of the tax code introduced by the Tax Cuts and Jobs Act (TCJA) in 2017 are set to expire at the end of 2025, exposing individuals and businesses to the prospect of significantly higher tax liabilities beginning in 2026. While it is possible lawmakers will intervene and extend some provisions […]

IRS Begins Audits of Business Aircraft Use by Joseph Leocata, JD, CPA, MBA

Posted on April 17, 2024 by Joseph Leocata

The IRS has begun auditing the use of corporate jets to ensure taxpayers properly allocate business use from personal use for tax purposes. These efforts are part of the agency’s larger strategic plan to increase audit enforcement and improve tax compliance among large corporations, partnerships and high-net-worth individuals. Under current law, businesses may deduct certain […]

Podcast – BPB Knows Economic Damages Claims

Posted on April 04, 2024 by Daniel Hughes

In this episode Director of Forensic and Advisory Services Dan Hughes explains how expert witnesses calculate economic damages in lawsuits.

Podcast – BPB Knows Cash Flow Management

Posted on March 05, 2024

On today’s episode Associate Director Debra Sears shares her thoughts about the importance of cash flow and strategies for making improvements.

SECURE Act 2.0 Brings More Changes to Employer-Sponsored Benefit Plans in 2024 by Melissa Fleitas, CPA

Posted on February 29, 2024 by Melissa Fleitas

The SECURE Act 2.0, passed into law in 2022, aims to reform the nation’s retirement savings system, making it easier for workers to save for their golden years and simplifying the rules employers must follow to administer retirement benefit plans for their employees. Following are some of the law’s provisions that take effect on Jan. […]

Podcast – BPB Knows Insurance Audits for Healthcare Practices

Posted on February 22, 2024 by Whitney Schiffer

In this episode Director of Assurance and Advisory Services Whitney Schiffer shares the ways insurance audits can uncover underpayments and improve finances.

Category: Business Owners