Accounting considerations for pass through entity tax
3 benefits of written exit plans
Inflation Reduction Act of 2022
On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 2022 (“IRA”) into law. This bill has passed both the House and Senate along party lines. A…
How the Inflation Reduction Act Could Affect Construction Contractors
On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of 2022 into law. The IRA contains numerous changes to the Internal Revenue Code (IRC) intended to boost…
Educator Expense Deduction: Qualifications and Increases for 2022
With the summer ending and kids heading back to school, teachers are planning what they need to set up their classrooms effectively for their new groups of students. Teachers across…
Nonprofit Cybersecurity: Why it Should be a Top Business Priority
With cyber attacks on the rise, even nonprofits can no longer ignore or poorly budget for this serious problem. Groups that may want to disrupt your mission or hold your…
IRS Notices for Deferred Social Security Tax Payments
When the Coronavirus Aid, Relief and Economic Security Act (CARES Act), was released, it provided taxpayers with the ability to defer an employer’s portion of Social Security taxes, as well…
5 Key Business Issues Impacting the Restaurant Industry
If there’s one thing that’s true about the restaurant industry, it’s that it can be very volatile at times. But the pandemic and many additional factors have created an even…
IRS Releases “Dirty Dozen” Tax Scams for 2022
The IRS recently released its annual list of the “worst of the worst” tax scams currently affecting U.S. taxpayers, which it calls the “Dirty Dozen.” The agency monitors tax scams…
How to Account for Cryptocurrency
When considering how to account for cryptocurrency (crypto) on a company’s financial statements, the simplest conclusion might be to classify it as a cash equivalent. After all, it is “currency,”…
Patient Centered Outcomes Research Fee
WHAT IS IT? Under Obamacare (The Patient Protection and Affordable Care Act of 2010, or the “ACA”) a PCOR fee is applied to certain health plans. PCOR stands for “Patient…
Restaurant Revitalization Fund
The American Rescue Plan Act of 2021, signed into law on March 11, 2021, by President Biden, is a $1.9 trillion economic stimulus package enacted to assist with the United…