by Admin | Dec 28, 2022 | Business Taxes, Entrepreneurial, Individual Taxes
The Internal Revenue Service announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season. As a result of this delay, third-party settlement organizations will not be required to report tax...
by Admin | Dec 27, 2022 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning
There’s an old saying that reminds us that there are only two certainties in this life: “death, and taxes.” Whoever coined that phrase couldn’t have known how true it was, particularly when it comes to the latter portion. The Internal Revenue...
by Admin | Dec 23, 2022 | Business Taxes, Entrepreneurial
Experts agree that a recession in both the United States and Europe is likely just on the horizon. Recessions can be stressful and uncertain times for even the strongest businesses out there – to say nothing of how difficult they can make things for younger and...
by Admin | Dec 15, 2022 | Business Taxes, Individual Taxes, Tax Planning
Virginia’s interest rates will change for the first quarter of 2023. The underpayment and overpayment rates for Virginia taxes are 2% higher than the corresponding federal rates. Federal rates for the first quarter of 2023 will be 7% for tax underpayments...
by Admin | Dec 15, 2022 | Business Taxes, Entrepreneurial
The possibility of a recession looms large. According to one recent study, approximately 20% of all small businesses that open their doors today will close within the first year. Of the number that survives, about 30% will close just one year later. By year five,...
by Admin | Dec 8, 2022 | Business Taxes, Tax Planning, Tax Scams
Have you seen those ads on television or received email solicitations promoting a large tax credit? The large tax credit they are referring to is the employee retention tax credit (ERTC). The ERTC is a government-sponsored program to keep workers employed during 2020...
