Digital Currency May 9, 2023
Sam Bankman-Fried Wants Criminal Charges Dropped
A filing from the FTX founder’s legal team argues 10 charges in Bankman-Fried’s 13-count indictment should be dismissed.
Taxes May 7, 2023
Cannabusiness Tax Liabilities and How to Navigate Filing
Making sure your COGS are accurate is the best way to ensure your tax liability is accurate as well, and working with a seasoned accounting professional can give you that peace of mind.
Taxes May 7, 2023
New Law Launches Military Spouse Credit for Employers
Now new legislation enacted at the end of last year, called SECURE 2.0, provides a tax benefit to qualified small businesses aiding military families.
Taxes May 7, 2023
Renting a Home Office to Your Company
Make sure the company is paying you a reasonable rent for the space. It should be the same rate that would be charged to a third party.
Taxes May 7, 2023
Augusta Rule Provides Tax Savings for Real Estate Rentals
Originally included in Public Law 97-455 passed in October 1976, Section 280(A)(g) was added to allow personal residences to be rented for 14 days or less with the rental income not includible in gross income.
Taxes May 7, 2023
AICPA Releases Priority Guidance Plan on SECURE 2.0 Act
The American Institute of CPAs recently submitted a letter to the Department of the Treasury and the Internal Revenue Service (IRS) prioritizing certain provisions of SECURE 2.0
Taxes May 6, 2023
What to Do if Your Taxes Get Audited
Check to see if the IRS will be conducting a correspondence audit or a field audit. It makes a big difference in how you should handle things.
Taxes May 5, 2023
Senator Demands IRS Pays Employee Retention Credits Still Owed to Small Businesses
Sen. Kirsten Gillibrand says nearly a million businesses are owed an ERC for keeping their staff on payroll during the pandemic.
Taxes May 4, 2023
Income Tax Deduction or Credit? It Matters
Absent unusual circumstances, a credit on your return is more valuable than a deduction, by far. It’s a no-brainer. Nevertheless, there are certain times when a deduction would be preferable.
Payroll May 4, 2023
New York Minimum Wage to Increase Starting in 2024
The minimum wage will increase to $16 an hour in New York City and Westchester, Nassau and Suffolk counties and to $15 an hour in all other areas of the state on Jan. 1, 2024.
Taxes May 3, 2023
There is Only One Minivan Eligible for EV Tax Credits
The list of electric vehicles that qualify for the full $7,500 incentive under the Inflation Reduction Act is down to 10.
Taxes May 2, 2023
Tax Rep Network to Present The Practitioner’s Advisory Summit Free Virtual Conference June 14, 2023 Sponsored by Intuit
The Summit agenda features key thought leaders discussing all aspects of advisory services including reviewing the current state of advisory services.