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Despite its name, the "kiddie tax" is anything but child's play. If you're not careful, this provision of the tax code can result in children having to pay significant extra tax dollars on their investment income. But your family may be able to downsize the kiddie tax for 2023 by making the right… Read more
Proactive business owners always have an eye on the future. And part of that preparedness means knowing what the company is currently worth and doing everything possible to maximize that price. Operating in a sale-ready state can be worthwhile, for example, if the business receives an unsolicited…
Healthcare organizations may be missing opportunities to align tax planning with business strategy.
The new Section 174 rules require taxpayers to capitalize and amortize R&E costs incurred in taxable years beginning on or after Jan. 1, 2022. Amortization is calculated using a straight‐line recovery period of either five years for costs incurred in the U.S. or 15 years for costs incurred outside…
About 15% of people surveyed by the American Association of Retired Persons believe they weren't hired for a job they applied for because of their age. This was according to a series of surveys of workers age 50 and over conducted by the organization in 2022. Other survey results show that a…
If you're planning to move out of your current home, you face a tough question: Should you sell your home, or would it be more beneficial to convert it into an income-producing rental property? In terms of both selling prices and rental rates, the residential real estate market has cooled off in…
Many hospital organizations are faced with conducting an update to their Community Health Needs Assessment (CHNA) as part of completing their 2022 tax returns. With increased funding at the IRS, many industry experts expect increased enforcement of the Internal Revenue Section (“IRC”) 501(r)…
Employers and employees are often at odds over the issue of overtime pay. Naturally, employers are inclined to argue that an employee isn't entitled to overtime pay when it would boost the overall compensation that must be paid to the employee. The employer's position may be bolstered by applicable…