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In today's tight labor market, small businesses may need to think outside the box to find employees to fill open positions. In some cases, you may have to sweeten the deal with higher salaries or extra benefits. But you may be able to offset higher compensation costs with a lucrative federal tax… Read more
Although tax credits as subsidies have been a cornerstone catalyst for advancing many ESG policies and technologies over the last several years, tax is often forgotten or minimized in the process of creating and implementing corporate ESG and value creation strategies. Ignoring the symbiotic…
The ground rules that determine whether an employee qualifies for overtime pay or is classified as "exempt" are set by the Fair Labor Standards Act (FLSA) and regulations under that law issued by the Department of Labor. Based on the FLSA, an employee who's exempt is considered ineligible for…
The COVID pandemic prompted numerous temporary changes to the tax laws for 2020 and 2021. From Economic Impact Payments, penalty-free IRA distributions and the expanded child tax credit to Employee Retention Credits and credits for paid leave, taxpayers had ample areas to make mistakes when…
The IRS recently announced it will be increasing the standard mileage rate for qualified business drivers for the second half of 2022. The adjustment reflects rising costs at the gas pumps this year. It's accompanied by a hike in the standard mileage rate for medical expenses for all taxpayers and…
Federal tax professionals working to resolve issues with the IRS can attest to the multifaceted impacts of the agency’s resource constraints on taxpayer service. The signs are evident, for example, in the long wait times for calls to be answered, tax return processing delays and increased instances…
Once upon a time, consumers generally expected a clear line of demarcation between advertising and editorial content. While holdouts remain — especially from older generations — younger audiences who came of age during or after the advent of social media often have no problem with blending the two.…
Are you a business owner working from home as a sole proprietor or an entrepreneur with a home-based side gig? As long as you meet certain requirements, you may qualify for sizeable home office deductions, including write-offs attributable to everyday household expenses.
