Month: April 2024

Many business owners want to keep their family business within their families. But demographics and generational issues are making that tougher. Companies are often heirless, or their next generation is not ready to take over. Of course, procrastination is still a problem, too. According to a 2023 study by […] Click here to view full […]

Background The ERC was initially enacted in March 2020 as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide eligible employers with a refundable tax credit against applicable employment taxes during qualifying periods between March 13, 2020, and December 31, 2021 (its availability in the […] Click here to view full […]

Clients nearing Medicare age should know about IRMAA (Income-Related Monthly Adjusted Amount), inflation-adjusted surcharges on parts B and D of Medicare. IRMAA surcharges—which first appeared in 2007 as part of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003—kick in for 2024 when clients hit just $103,000 of […] Click here to view full […]

State and local taxes are arguably the most complex part of the tax system in the U.S., and for businesses that operate across state lines, they are especially relevant and difficult to navigate. Click here to view full article

The Internal Revenue Service has posted new information about how to handle possible processing errors when electronically filing Form 1065, “Return of Partnership Income,” and ways to avoid them. Click here to view full article

The Internal Revenue Service said Monday that over $1 billion in unclaimed tax refunds for 2020 is awaiting nearly 940,000 individuals, but time is running out to claim the money, with a May 17 deadline approaching for filing the necessary tax returns. Click here to view full article