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Once the 2023 tax year is over and the numbers are generally set in stone, you can itemize deductions on your federal income tax return if your total allowable itemized write-offs for the year exceeds your standard deduction allowance for the year. Otherwise, for 2023, you will claim the standard…
The flat 21% corporate federal income tax rate ushered in by the Tax Cuts and Jobs Act made the idea of operating your business as a C corporation more attractive than before. The flat 21% rate applies to both "regular" C corporations and C corporations that are classified as personal service…
The gift tax exclusion is among the most valuable tools available to transfer assets to family and other loved ones without ending up with an unwelcome tax bill for the givers or recipients. Year end often is a busy time for gifting, as taxpayers move to take advantage of the annual exclusion.…
When generative AI hit the front pages, companies across industries moved quickly to explore the opportunities the technology had to offer.
Predictive staffing helps ensure the right people are available at the right time to provide the right care.
Businesses and individuals concerned about the confusing 1099-K reporting requirements can breathe a sigh of relief: On November 21, 2023, the IRS announced that the deadline for the new $600 reporting threshold won't go into effect for the 2023 tax year — and it's expected to increase the threshold…