If your business has independent contractors or makes other payments to customers or others, you probably file 1099 forms with the IRS. The tax agency is currently sending out notices about these forms to some taxpayers. Continue Reading Businesses May Receive Notices About Information Returns That Don’t Match IRS Records
California enacted Assembly Bill 150 (“AB 150”) in 2021 as a method for deducting state and local taxes in excess of federal deduction limitations. Continue Reading Important News for California Pass Through Entities: PTE Payment Due June 15
If your nonprofit’s budget is growing and your executives are struggling to juggle financial responsibilities, it may be time to hire a CFO. Learn about what these executives do and what to look for in a candidate. Continue Reading CFO, Yes or No? Here’s How to Decide
Internally generated goodwill isn’t on the balance sheet. But acquired goodwill is another story. Do you know the rules for reporting acquired goodwill and subsequently testing it for impairment? This is a hot button for many organizations today. Continue Reading Goodwill in a Bad Economy
If you’re looking for a new partner to add to your partnership, you may think the hard part is over once you find the right person. But there may be tax challenges ahead. Continue Reading Tax Considerations When Adding a New Partner at Your Business
Once your 2021 tax return has been filed, there still may be some issues to consider. Many people have questions about how to find their refund status, which records can be thrown out and when to file amended tax returns. Continue Reading Once You File Your Tax Return, Consider These 3 Issues
Wining and dining customers and employees can result in tax deductions and for 2022, the write-offs are bigger than usual. Continue Reading Fully Deduct Business Meals This Year
Selling mutual fund shares involves many complex factors. Here are the basic rules. Continue Reading Selling Mutual Fund Shares: What Are the Tax Implications?
Do you know the differences between cash and accrual accounting methods? Some small business owners are unaware of the options that are now available to them. Continue Reading Deciding Between Cash and Accrual Accounting Methods
Here are some of the key federal tax-related deadlines that apply to businesses and other employers during the second quarter of 2022. Continue Reading 2022 Q2 Tax Calendar: Key Deadlines For Businesses And Other Employers
The CalSavers retirement savings program was first signed into law in 2016 for private sector workers whose employers do not already offer a retirement plan. Employers who already offer a retirement plan are exempt from this requirement. Continue Reading CalSavers Deadline is Approaching for California Employers
The SECURE Act nixed the “stretch IRA” and replaced it with a new 10-year rule on inherited IRAs. However, subsequent IRS guidance has created confusion about when certain beneficiaries must begin taking distributions. Continue Reading Proposed Regs for Inherited IRAs Bring Unwelcome Surprises
If your business has independent contractors or makes other payments to customers or others, you probably file 1099 forms with the IRS. The tax agency is currently sending out notices about these forms to some taxpayers. Continue Reading Businesses May Receive Notices About Information Returns That Don’t Match IRS Records
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