The Internal Revenue Service (IRS) has announced a moratorium on new claims related to the pandemic-era Employee Retention Credit (ERC, also known as Employee Retention Tax Credit). The pause on […]
If you hire a domestic worker to provide services in or around your home, you probably have a tax liability that you don’t know about – or one that you […]
Accounting takes time. And the last thing you need when you’re working with your company’s finances is an activity that takes unnecessary minutes. If you’ve created a record or transaction […]
Especially in the early days of a business, it can be natural to want to handle as many day-to-day tasks yourself – bookkeeping included. Sometimes, it’s in an effort to […]
The type of business that you’re running has major implications in virtually all areas of your operations, especially when it comes to federal taxes. An S Corporation (or S Corp […]
Individuals are always looking for tax deductions that can reduce their tax liability. But what is the actual tax benefit derived from a tax deduction? There is no straightforward answer […]
If your 2022 refund or balance due turns out not to be the desired amount, you may want to consider adjusting your withholding based on your projected tax for 2023. […]
Employers should be wary of third parties advising them to claim the Employee Retention Credit (ERC) when they may not qualify, according to the IRS. (IR 2022-183, 10/19/2022) As described […]
Recently, the Social Security Administration (SSA) published their annual release detailing changes to the Social Security wage base and the cost-of-living adjustment (COLA) for Social Security and Supplemental Security Income […]
This article explains that in 2021 the IRS announced that “refund claims for section 41 research credits must include detailed information in five specific areas, with claims failing to meet […]
