Business Owners

R&D Tax Credits Can be a Boon to Real Estate Businesses by Karen A. Lake, CPA

Posted on February 21, 2023 by Karen Lake

Mentioning the federal research and development (R&D) tax credit often conjures up images of scientists in white coats conducting lab experiments. Truth be told, the credit, which can reduce taxpayers’ federal tax liabilities, applies to a wide variety of activities conducted by companies outside of labs in an even broader range of industries, including construction […]

Real Estate Owners, Builders, Contractors Can Find Valuable Tax Savings in New Law by Kevin McNally, JD

Posted on February 14, 2023 by Kevin McNally

The passage of the Inflation Reduction Act in 2022 ushered in new and expanded tax-saving opportunities for individuals and businesses that produce, adopt and/or invest in energy-efficient technologies, including wind, solar and geothermal power. This includes an extension of tax savings to commercial real estate property owners and, for the first time, real estate investment […]

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 […]

Are You Ready to File Your 2022 Tax Returns? by Angie Adames, CPA

Posted on January 31, 2023 by Angie Adames

January 23rd marked the start of the U.S.’s 2023 tax season and the official date the IRS began accepting and processing individuals’ 2022 tax returns. Following are the critical deadlines and details taxpayers should keep in mind as they gather required documents and work with their CPAs and accountants to meet their federal tax-filing obligations. […]

Podcast – BPB Knows Passive Activity Loss Rules

Posted on January 17, 2023 by Adam Fisher

In this episode, Associate Director of Tax Services Adam Fisher explains passive activity loss rules and how they benefit real estate investors.

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 […]

Podcast – BPB Knows the Role of Trustees in an Estate Plan

Posted on January 05, 2023 by Sarah Gaymon

In this episode, Associate Director of Wealth and Tax Services Sarah Gaymon explains the importance of carefully selecting a trustee.

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

Posted on January 04, 2023 by Joel Young

In late 2022, the U.S. Treasury issued final requirements that certain corporations, LLCs, partnerships, business trusts and similar entities will need to begin reporting under the Corporate Transparency Act (CTA). While the CTA aims to bolster the country’s anti-money laundering policies and unmask the identities of the true owners behind shell companies and other opaque […]

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 Owners