Posted on June 01, 2022
by
Angie Adames
One of the most basic tenets of tax efficiency is tax-loss harvesting, or the practice of selling underperforming investments and creating a capital loss that you can then use to offset capital gains and ultimately reduce the amount of income subject to tax. Despite the simplicity of this concept, there is a myriad of complexities […]
June 1 marks the start of the Atlantic hurricane season and the potential for tropical force winds and heavy rainfall to damage property and impede business operations. The key to minimizing losses and getting your company back up and running after a storm is to have an actionable plan in place before the National Weather […]
Posted on May 18, 2022
by
David Kolan
The pandemic has spurred a tsunami of entrepreneurial new businesses. According to the U.S. Census Bureau, a record 5.4 million new business applications were filed in 2021, compared to 4.4. million in 2020 compared to 3.5 million before the pandemic in 2019. Whether these ventures will prove successful remains to be seen, but each one […]
Posted on May 10, 2022
by
Tomoko Shoji
Congratulations! You filed your tax return (or requested a filing extension) and paid your tax liabilities by the April deadline. However, there are circumstances for which you may need to amend your return and/or attempt to reduce your tax liabilities for the current year. Following are some tips to keep in mind after filing your […]
Posted on May 05, 2022
by
Karen Lake
In this episode Director of Tax Services Karen Lake shares information about SALT, state and local tax credits, work opportunity tax credits and more.
One of the few unfavorable provisions of the Tax Cuts and Jobs Act (TCJA) recently became even more detrimental to certain businesses. Effective Jan. 1, 2022, the amount of net business interest expense (BIE) businesses may deduct from taxable income is further reduced. The results have the potential to increase investment and borrowing costs, making […]
In this episode Director of Forensic and Advisory Services Scott Bouchner explains business valuations, when they are useful and how to get started.
Posted on April 05, 2022
by
Angie Adames
At the end of 2021, the IRS issued new guidance for certain passthrough entities and other taxpayers to use for purposes of reporting applicable partnership interests (API) held in connection with the performance of services, also referred to as “carried interest.” The guidance, provided in the form of frequently asked questions (FAQs), updates final regulations […]
Posted on March 18, 2022
by
Jason Morley
Before filing your 2021 individual tax returns, consider if there is anything else you can do to reduce the taxes you owe Uncle Sam. While your annual tax liability is based primarily on the income you earned and the actions you took before December 31, 2021, you may qualify for a last-minute opportunity to cut […]
In this episode Director of Tax Services Andrew Leonard shares the latest in ERTC deadlines and requirements.
