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, Tax Planning
Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service has announced a delay of the new $600 Form 1099-K reporting threshold for third-party settlement organizations for calendar...
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 | Nov 28, 2023 | Business Taxes, Individual Taxes, Tax Planning
Year-end is rapidly approaching, as are the holidays. So, before you become distracted with the seasonal celebrations, it may be in your best interest to consider year-end tax moves that can benefit you for both 2022 2023 and 2023 2024. Here are last-minute tax issues...
