Given the scheduled reduction in the estate & gift tax exemption at the end of 2025, business owners should act proactively. With the potential sunset of the TCJA, business owners should reassess their estate planning strategies, and a business valuation...
Read MoreIs your business ready to weather the storm?
As we reach peak hurricane season, Anita Zimmer, CPA, ABV, CFF explains how businesses should prepare now for that potential business interruption claim. For recovery of a financial loss, your insurance company will prepare an analysis comparing the lost revenues...
Read MoreSECURE 2.0 Act – What Businesses Need to Know for Their Retirement Plan
Designed to make it easier for employees to save for retirement, the Secure Act 2.0 was signed on 12/29/22 and changes are still going into effect. Kathy Flattmann, CPA explains what businesses need to know for their retirement plan. It...
Read MoreEntity Choice and Tax Planning
Entity Choice and Why It Matters for Tax Planning: You’ve decided to start your own company, but how do you want to be taxed? In this article, our very own Richard Tullier, CPA discusses some of the key differences between...
Read MoreEMPLOYEE RETENTION CREDITS – That offer might not contain the full story
Over the last few months, you have undoubtedly received emails claiming that you are missing out on hundreds of thousands of dollars in government funds due to the pandemic and that you should act before they expire. Before jumping in,...
Read MorePreparing to Sell Your Business
The idea of selling a business can be daunting: finding a buyer and managing the process all while continuing to run the business may cause owners to wait until they need to sell. An owner can, however, take steps to...
Read MoreIS IT TIME FOR A SALES AND USE TAX CHECK-UP?
One area of taxation that has seen significant change in the last few years is sales and use tax. Wegmann Dazet’s Allison Civello, CPA explains that due to changes to sales tax nexus, some businesses might not be paying required use taxes,...
Read MoreIRS Urges Caution with Schemes Promising ERC Help
The IRS on October 19 issued IR-2022-183, warning employers to be wary of promotions for the employee retention credit (ERC) that sound too good to be true
Read MoreMANDATORY CAPITALIZATION OF R&E EXPENSES – THE IMPACT ON LIFE SCIENCES COMPANIES
Our friends at BDO explain that Research & Experimental (R&E) expenditures after December 31, 2021 will no longer be immediately tax deductible. Instead, businesses are subject to mandatory capitalization of R&E expenses – now they must capitalize and amortize these...
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