Accounting

The IRS Warns Businesses About ERTC Scams

August 21, 2023

The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERTC). While some employers do indeed remain…

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Virtual Currency Lands in the IRS’s Crosshairs

June 27, 2023

While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation Hidden Treasure to root out…

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Social Security’s Future: The Problem and The Proposals

May 16, 2023

Recent reports have raised anew concerns about the impending insolvency of the Social Security program, absent congressional action. Social Security reform has long been considered a “third rail” of American…

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2023 Q2 Tax Calendar: Key Deadlines for Businesses and Employers

March 17, 2023

Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2023. Keep in mind that this list isn’t all-inclusive, so…

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How the New SECURE 2.0 Law May Affect Your Business

February 23, 2023

If your small business has a retirement plan, and even if it doesn’t, you may see changes and benefits from a new law. The Setting Every Community Up for Retirement…

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Tips to Help Prevent Accounting and Tax Errors

February 21, 2023

Although failing to file a Form 990 with the IRS when required to do so is probably a more serious mistake, filing it with data errors isn’t recommended. Similarly, your not-for-profit…

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How to Minimize the S corporation LIFO Recapture Tax

February 15, 2023

If you’re considering converting your C corporation to an S corporation, be aware that there may be tax implications if you’ve been using the last in, first out (LIFO) inventory…

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Computer Software Costs: How Does Your Business Deduct Them?

January 31, 2023

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells…

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Forms W-2 and 1099-NEC Are Due to be Filed Soon

January 27, 2023

With the 2023 filing season deadline drawing near, be aware that the deadline for businesses to file information returns for hired workers is even closer. By January 31, 2023, employers…

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2023 Tax Calendar

January 13, 2023

To help you make sure you don’t miss any important 2023 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the…

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