The pandemic and subsequent months of economic uncertainty have proven that change is the one constant business leaders must accept and continually prepare for, not only to survive, but also to thrive over the long term. While changes may involve modifications to specific segments of a business, such as narrowing or expanding geographic distribution, products […]
The IRS has extended until Feb. 15, 2023, various tax-filing and tax-payment deadlines for individuals and businesses recently impacted by Hurricane Ian, which made landfall on Florida’s west coast on Sept. 28, 2022. The postponed deadline applies automatically to taxpayers with homes or businesses located anywhere in the states of Florida, North Carolina and South […]
Posted on September 28, 2022
by
Daniel Hughes
In the aftermath of Hurricanes Fiona and Ian and with Hurricane Nicole taking aim at Florida, we are reminded once again of the importance of preparing for and responding to natural disasters in order to minimize business losses and ensure long-term viability. The actions a business takes during the first few days following a loss […]
Posted on September 23, 2022
by
Steven Rubin
To account for persistent inflation and higher fuel prices, the IRS raised some of the standard mileage rates taxpayers may use to calculate the deductible costs of operating cars, vans or trucks for business, charitable, medical or moving purposes during the final six months of 2022. Taxpayers also have the option to calculate these deductible […]
Posted on September 20, 2022
by
Melissa Fleitas
Under recent guidance issued by the IRS, retirement plans, including 401(k)s, certain 403(b) plans and individual retirement accounts (IRAs), have additional time to adopt required amendments incorporating new legislation introduced in 2019 and 2020. The new deadline for non-governmental calendar-year plans to adopt these amendments has been postponed from December 31, 2022, to December 31, […]
In this episode Director of Assurance and Advisory Services Hector Aguililla describes quality of earnings reports and why they are so valuable to buyers and sellers in M&A transactions.
Posted on August 19, 2022
by
Andrew Leonard
Although it has been two years since Congress introduced the Employee Retention Tax Credit (ERC) to help businesses and non-profits keep workers employed through the COVID-19 pandemic, many qualifying entities failed to claim the credits on their 2020 and 2021 tax returns. The good news is there’s still time for employers to request a retroactive […]
In this episode Associate Director of Assurance and Advisory Services Melissa Fleitas shares what plan sponsors need to know about required reporting of 401(k) plans and employee benefits programs.
Posted on July 20, 2022
by
Luke Lucas
Included in New York’s 2022-2023 budget is a $250 million COVID-19 Capital Costs Tax Credit Program, offering financial assistance to help the state’s small businesses cover some of the operating costs they incurred adapting to the pandemic. The assistance comes in the form of tax credits equal to 50 percent of qualifying expenses and up […]
Posted on July 12, 2022
by
Joel Glick
There are a variety of economic and non-economic factors that can negatively impact cash flows for businesses of all sizes across various industries. Currently, the ongoing labor and supply-chain constraints coupled with record-high inflation and rising interest rates are making it more difficult for businesses to cover their operating costs and maintain profitability. While there […]
