Accounting

Update on Beneficial Ownership Information Reporting

February 7, 2024

As the Corporate Transparency Act (“CTA”) became effective 1/1/24 for newly formed entities, and many existing entities being required to file by 12/31/24, Nisivoccia LLP wants to provide some updated…

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New Per Diem Business Travel Rates Kicked In On October 1

November 6, 2023

Are employees at your business traveling and frustrated about documenting expenses? Or perhaps you’re annoyed at the time and energy that goes into reviewing business travel expenses. There may be…

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IRS Offers a Withdrawal Option to Businesses that Claimed ERTCs

October 30, 2023

Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses’ concerns about the validity of their claims for this valuable, but complex, pandemic-related credit…

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Employers and Business Owners: The Social Security Wage Base for Employees and Self-Employed People is Increasing in 2024

October 27, 2023

The Social Security Administration recently announced that the wage base for computing Social Security tax will increase to $168,600 for 2024 (up from $160,200 for 2023). Wages and self-employment income…

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Maximizing Financial Strength in 2023: A Guide for Physicians, Medical Practices and Healthcare Facilities

August 24, 2023

In the ever-evolving landscape of healthcare, sustaining a robust revenue stream is pivotal for the triumph of medical practices. To fortify the financial well-being of your medical practice in the…

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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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