IRS declares immediate moratorium on processing new claims for Employee Retention Credit due to concerns of scams and improper claims, urging businesses to seek advice from trusted tax professionals.
As more companies embrace remote work, employers need to be aware of the various rules and regulations that can apply to remote employees. The implications of remote work crossing state lines can be complex and, if not properly managed, may create significant administrative burdens or legal problems for employers. Learn about key considerations for managing remote workers across state lines.
Employers must protect their interests when employees leave or join their company, but the use of non-compete agreements and similar contracts is becoming increasingly regulated at the state and federal levels. This article explores common business agreements and best practices to mitigate potential risks.
Worried about getting audited by the IRS? Check out the statistics on IRS audits and tips to reduce your risk of being audited.
If you earn income as a freelancer, independent contractor, or from a side gig, you’ll likely do so as a sole proprietor or single-member LLC and report your income on a Schedule C. Learn more about these types of entities and the Schedule C in this article.
Effective working capital management can make all the difference between success and failure in the business world. Learn how to measure and effectively manage your company’s working capital.
The tax treatment of business interest expense is governed by Section 163(j) which places limits on the amount of interest businesses can deduct on their tax returns based on their income and other factors. Unfortunately, the calculation for determining a company’s limit has changed starting with the tax year 2022 and stands to impact many large businesses negatively.
The SALT deduction has been a longstanding benefit for taxpayers who pay state and local taxes. However, recent limitations to the SALT deduction have left taxpayers in high-tax states looking for alternatives. One such option is the PTE tax election, which allows pass-through entities to pay and deduct state and local taxes on behalf of their owners.
The Tax Cuts and Jobs Act (TCJA) of 2017 made several sweeping changes to the tax code. However, many provisions were designed to be temporary and thus contained a “sunset” or expiration date. This article will review several provisions that have either recently expired or are scheduled to expire in the coming years.
