Rachel Brouwer, Mercedes Latulippe, & Angela Harr Promoted to Partners
We’re excited to announce a significant milestone here at Moss Krusick – the promotion of three outstanding individuals to Partners within our firm. Please join us in extending a warm congratulations to Mercedes Latulippe, Rachel Brouwer, and Angela Harr, who bring a wealth of talent, experience, and dedication to their new roles. Let’s take a…
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Common IRS Audit Triggers for Small Businesses: How to Avoid Them
As a small business owner, the word ‘audit’ can be a source of anxiety. However, understanding the common triggers for an IRS audit and taking proactive steps can significantly reduce the likelihood of facing one. This article explores the factors that could lead to an IRS audit for small and medium-sized businesses (SMBs) and provides…
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Great Navigating the Tax Implications of Remote Work for SMBs: A Comprehensive Guide
In the wake of the pandemic, remote work has become the new norm for many American workers and with it comes tax implications for SMBs to avoid potential penalties and ensure compliance with tax laws. Understanding the concept of a tax nexus is one of the most significant challenges for many business owners. A tax…
Information on the ERC Voluntary Disclosure Program
On Dec. 21, 2023, the IRS announced the details of the Employee Retention Credit Voluntary Disclosure program (ERC-VDP) for employers who claimed and received an ERC refund for a quarter but were not in fact eligible for the credit. Please see below the repayment terms, benefits, and eligibility for this program: You need to repay…
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New Beneficial Ownership Information Reporting Requirements (BOI)
What is it? The Beneficial Ownership Information Reporting Rule (BOI) is part of the Federal Corporate Transparency Act (CTA) passed in 2022. It requires certain entities to report ownership information to FinCEN (Financial Crimes Enforcement Network – Division of the US Treasury). This is not part of the tax code and this new reporting requirement…
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Simplify Your Business with Recurring Transactions in QuickBooks Online
QuickBooks Online offers a world-class set of bookkeeping and accounting features designed to simplify financial management tasks for all business owners. Among these features is the ability to set up recurring transactions. This powerful, time-saving tool is a great way to automate certain expenses and payments. Whether you’re using QuickBooks Online or QuickBooks Desktop, recurring…
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