Are pre-startup costs deductible before your business officially launches? This article examines the tax rules and a recent court case that clarifies the issue, offering insights on how to maximize deductions.
Basis-shifting transactions are under intense scrutiny by the IRS, and new regulations aim to curb these practices within partnerships. Even if your partnership isn’t engaging in tax avoidance, the broad scope of these rules means you could still be affected. Learn what basis-shifting entails and how to prepare for these potential regulatory changes.
Year-end is fast approaching, and for high-income earners and gig workers, it’s the perfect time to review your tax withholding. This article will explain why this check is crucial and how it could potentially help you avoid a hefty tax bill.
Explore how AI is transforming the world of accounting, enhancing efficiency and accuracy without replacing the human touch.
Understand the M&A trends in 2024 and how businesses are leveraging these opportunities to strengthen their market position.
Struggling with uncollectible debts? This article explains how to manage bad debts, including how to report them, track allowances, and handle unexpected repayments—all while staying compliant with tax rules.
Ever wondered how long you could be subject to an IRS audit? Our latest article breaks down the complexities of IRS audit timeframes.
With the rise of legal sports betting and online gambling, it’s crucial to understand the IRS reporting requirements associated with your winnings. Discover the thresholds for different types of gambling and how to report your earnings accurately. Learn how to avoid potential penalties and comply with IRS regulations.
The IRS is making significant strides in processing Employee Retention Credits. Gain a deeper understanding of these recent updates and their implications for your business. Stay ahead of the curve by reading our latest article.
The IRS is set to dramatically boost audits on high-income earners, major corporations, and complex partnerships. Find out what these changes mean for you and how to prepare effectively.
Your company is unique, and we may not be able to answer your specific questions within a blog post. Contact us and let our experts find the solution that’s right for you.
