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The Tax Cuts and Jobs Act (TCJA) included many important federal income tax provisions that affect small business taxpayers and their owners. Some of these provisions are scheduled to expire in the near future, unless they're extended or made permanent by Congress. Here's an overview of five key… Read more
The nationwide ban against noncompete agreements for most employees and independent contractors has been overturned by the U.S. District Court for the Northern District of Texas. The ban, which was scheduled to take effect on September 4, 2024, was mandated under a new final rule issued by the…
The national conventions for both political parties' presidential candidates have wrapped up and their platforms have finally been released. With campaign season in full swing, many voters are wondering about the presidential candidates' tax proposals. Unfortunately, the details of the dueling…
It's a challenging time for businesses. Therefore, any help you can get — such as tax credits, tax exemptions and other incentives – can make a big difference. Unfortunately, these incentives often go unclaimed because businesses don't know about them.
Here's a look at two types of incentives…
If you requested an extension for your 2023 federal income tax return, you have until six months from the original due date — October 15, 2024, to be exact — to wrap things up. This extra time may give you the opportunity to lower your overall tax bill and possibly increase a refund. Here are 10…
During uncertain times, you may be concerned about the effects world events will have on your financial affairs. Of course, there are no absolute guarantees of protection, but shoring up your defenses and laying the groundwork for a comprehensive wealth-management plan can help. Here are eight steps…
Comments submitted on behalf of the American Bar Association Section of Taxation (ABA tax section) in a letter dated July 2, 2024, suggest the IRS should supplement or expand its 2008 guidance on F reorganizations involving S corporations and qualified subchapter S subsidiaries (QSubs) to include…
The journey from founding a company to successfully handing over the reins involves navigating a complex maze of financial, legal, and even emotional challenges. Robust succession planning can prepare the family-owned enterprise for new leadership or new owners while enhancing the financial…