If your company has incurred research and experimental expenses over the past few years, recent changes to the federal tax law need your attention. The One Big Beautiful Bill Act, signed in July 2025, restored […]
Important Tax Changes for September 2025 Read More »
The Corporate Transparency Act (CTA) goes into effect on January 1, 2024 and will impact millions of small businesses. The primary objective of the CTA is to provide transparency regarding undisclosed ownership through corporate structures
What is the Corporate Transparency Act? Read More »
Today, the IRS announced that Tesla, Inc. has sold more than 200,000 vehicles eligible for the plug-in electric drive motor vehicle credit during the third quarter of 2018. This triggers a phase out of the
Tax Credit for Plug-In Electric Vehicle Credit Begins Phase Down Read More »
With the pass of the Tax Cuts and Jobs Act (TCJA), a new limit has been placed on the deduction for SALT, State And Local Taxes. These limits severely impact residents of states that derive
Be Weary of State SALT Deduction Workarounds Read More »
Just a quick reminder, the 2017 tax compliance deadlines are quickly approaching. For reference, the ones you need to be aware of are: January 31, 2018 Deadline to distribute annual wage and tax reports to
2017 Compliance Deadlines Read More »
As the 2016 tax year winds down, there is no better time than now to get your finances in order. Let’s face it, the last thing you want to think about during the holiday season is
When to File? Important Changes to Due Dates and more Read More »
FinCEN Form 114, formerly referred to as “FBAR”, Report of Foreign Bank and Financial Accounts, is used to report a financial interest in or signature authority over a foreign financial account. The “FBAR” is due
Accelerated Due Date for FinCEN Form 114 Read More »
Form 1099-MISC along with many other informational returns are due to recipients at the end of this month. Last year, I gave a brief outline of who may be be required to file. Penalties for
Due Date for Forms 1099 Quickly Approaching Read More »
Falling behind on payroll taxes? Expect a call from the IRS soon. In a recent news release, the IRS announced its plans to launch a new initiative aimed at monitoring payroll deposit patterns. Employers that
IRS to Begin Contacting Employers with Late Payroll Tax Payments Read More »
On the last day of July, Obama signed into law, H.R. 3236, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015”. One of the provisions of this law included a change to
Update: New Tax Deadlines Read More »
Several years ago, the IRS passed legislation aimed to catch at tax cheats harboring income producing assets in foreign bank accounts. The legislation required taxpayers to disclose details relating to off shore banking accounts to
No Penalty for Delinquent FBAR Submissions Read More »
