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As 2024 is nearing its end, now is a good time to consider year-end strategies to help reduce the tax your business will owe. The effectiveness of a particular action depends on the circumstances of your business. Here are several possibilities. Read more
Beginning on January 1, 2024, many companies in the United States are required to report information about their beneficial owners (i.e., the individuals who ultimately own or control the company). Companies must report the information to the Financial Crimes Enforcement Network (FinCEN), which is a…
The Tax Cuts and Jobs Act (TCJA) virtually doubled the standard deduction through 2025. So fewer taxpayers are itemizing deductions these days. Instead, more people are claiming the standard deduction.
Are the costs of holiday parties tax deductible? Despite a recent crackdown on business entertainment expense deductions, your company's holiday bash may still qualify for write-offs for the 2024 tax year. You might even be allowed to write off the entire cost, unlike most other meal and beverage…
Artificial intelligence (AI) is fast evolving from an experimental, emerging technology to a critical tool for real estate firms.
The limits imposed by IRC Section 163(j) can significantly impact businesses, especially those with high-interest expenses. Here’s a breakdown of the essential information and the steps you should take to mitigate its effects.
Navigating the maze of federal taxes can be daunting. Many tax terms are confusing, whether you're a business owner, a seasoned individual taxpayer or someone filing a tax return for the first time. To make matters worse, significant tax law changes may be on the horizon due to the upcoming election…