News
Our take on all things financial.
IRS Offers a Withdrawal Option to Businesses That Claimed ERTCs
Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses’ concerns about the validity of their claims for this...
The Social Security Wage Base for Employees and Self-employed People is Increasing in 2024
The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages...
Valuations Can Help Business Owners Plan for the Future
If someone was to suggest that you should have your business appraised, you might wonder whether the person was subtly suggesting that you retire and sell the company. Seriously...
How IRS Auditors Learn About Your Business Industry
Ever wonder how IRS examiners know about different industries so they can audit various businesses? They generally do research about specific industries and issues on tax returns...
What Employers Should Know About Qualified Retirement Plan Audits
For employers, sponsoring a qualified retirement plan isn’t easy. Staying up to date on the constantly changing guidance and rules issued by federal agencies such as the U.S....
2023 Q4 Tax Calendar: Key Deadlines for Businesses and Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2023. Keep in mind that this list isn’t all-inclusive, so...
What Are the Pros and Cons of Custodial Accounts for Minors?
Setting up an investment account for your minor child can be a tax-efficient way of saving for college or other expenses. And one of the simplest ways to invest on your child’s...
Investment Swings: What’s the Tax Impact?
If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year end when the...
Conflict-of-Interest Policies Prevent Misunderstandings — and Fraud
Small businesses generally operate on principles of trust, particularly if several family members are involved. You might trust any employee to lock up the office at the end of...