In most cases, fringe benefits are tax-free for employees who receive them and tax-deductible by employers that provide them — so long as certain conditions are met. For example, an employer may offer discounted lunches in a company cafeteria. Not only can employees...
The federal income tax treatment of business-related meal and entertainment expenses has been a moving target the last few years. If you’re confused about what rules currently apply, you’re not alone. Here’s a refresher on what’s currently...
In a statement posted to its website on February 3, 2023, the IRS asked certain taxpayers to temporarily hold off on filing their 2022 returns until it could issue guidance on how to treat special tax refunds and payments made by approximately 20 states in 2022....
Are you up to date on the latest has been filed, you can focus your efforts on reducing its 2023 tax liability. What are the top tax-saving opportunities available to manufacturers this year? Here are seven prime candidates available for many companies: 1. Section 179...
The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) includes important changes that will affect employer-sponsored retirement plans and self-employed people looking to save for retirement. Here’s an overview of key provisions for small...
After months of negotiations, Congress finally passed the long-awaited Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0). This part of the omnibus funding package builds on the SECURE Act of 2019 and contains major changes in the required...
In the waning hours of the 117th Congress, a large government funding bill was passed that includes many provisions that will help Americans save more for retirement. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was part of...
Historical financial results are only relevant in a valuation to the extent that the business expects to achieve similar results in the coming years. When projecting future economic benefits, it’s important to consider expected changes to a subject...
Is your company struggling to tackle all its accounting needs? Companies that have lost a CFO, outgrown their bookkeeper, changed their offerings or experienced high growth can have a hard time finding the right accounting expertise — at the right price — in...
When valuing a business, recent market volatility may well translate into higher discounts for lack of marketability (DLOM) because investors generally will pay less for illiquid, risky investments. However, there’s a silver lining to economic uncertainty:...
