Give Your New Business a Strong Start Many people dream of being their own bosses. If you’re hoping to launch a business, get off to a strong start by making good decisions. For example, which business structure will you use… Read more »
Read Full Newsletter »business tax, Federal Tax, Title: Federal Tax News for Businesses
Attention: Your businessmay soon have to meet new reporting requirements that take effect on January 1, 2024. Under the Corporate Transparency Act (CTA), which was enacted in 2021, certain companies are required to provide information related to their “beneficial owners” —… Read more »
Read Full Newsletter »Businesses Targeted for Identity Theft The IRS is warning businesses that they may be prime targets for identity theft. How do you know if your company’s identity has been stolen? According to the IRS, you should investigate if you receive… Read more »
Read Full Newsletter »A Proposed New Way to Report Tips, A Scam Involving Employee Retention Credits, business tax, Business vs. Hobby: Protect Your Tax Deductions, Businesses Targeted for Identity Theft, Deduct the Cost of Seeking New Business, Federal Tax News for Businesses
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 deductible — and what’s… Read more »
Read Full Newsletter »50% deduction for business meals, business tax, Deductions, Favorable Exceptions, Federal Income Tax, food and beverage costs, IRS Regulations, Meals vs. entertainment, Meals while traveling, TCJA Impact, Update on Deducting Business Meal and Entertainment Expenses
Reporting by Third-Party Settlement Organizations Is Changing If you run a business and receive payments through third-party settlement organizations (TPSOs), expect significant changes in 2022. To improve voluntary tax compliance, the American Rescue Plan Act (ARPA) now requires TPSOs to… Read more »
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