by Admin | Jan 24, 2024 | Business Taxes, Entrepreneurial
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...
by Admin | Jan 3, 2024 | Business Taxes, Entrepreneurial, Individual Taxes, Tax Planning
As it does every year, the Internal Revenue Service recently announced the inflation- adjusted 2024 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on...
by Admin | Dec 18, 2023 | Business Taxes, Entrepreneurial, Tax Planning
Last year, Financial Crimes Enforcement Network (FinCEN) took a historic step in support of U.S. government efforts to crack down on shell companies and illicit finance by issuing a final rule establishing a beneficial ownership information reporting requirement,...
by Admin | Dec 5, 2023 | Business Taxes, Entrepreneurial, Tax Planning
Businesses, whether operating as a corporation, partnership, or a sole proprietorship, have been required to electronically file information returns when the aggregate number of these returns, regardless of the type of return, for a tax year was more than 250. The IRS...
by Admin | Nov 28, 2023 | Business Taxes, Entrepreneurial, Tax Planning
As a business owner, understanding the value of your company is crucial for various scenarios, from transactions to tax reporting, financial reporting, and even potential litigation. In this comprehensive guide, we’ll address ten commonly asked questions about...
by Admin | Oct 17, 2023 | Entrepreneurial
The Federal Reserve last decided to raise interest rates in July 2023, bringing the benchmark federal funds rate to a target range between 5.25% and 5.5% – though it is worth noting that the Fed has kept interest rates stagnant during its last three meetings, most...
