The past 18 months have been full of challenges for nonprofits. Adding on to the scope are several significant tax changes for nonprofits and updated guidance that has been released. Some changes can be traced back to the Tax Cuts and Jobs Act (TCJA) of 2017 and are just now receiving guidance or enforcement. Here
Many businesses use independent contractors to help keep their costs down. If you’re among them, make sure that you properly classified these workers as independent contractors for federal tax purposes. If the IRS reclassifies them as employees, it can be a costly error. It can be complex to determine whether a worker is an independent
Many businesses provide educational assistance programs so their employees can improve their skills and gain additional knowledge.
There’s a valuable federal income tax benefit (the business energy credit) that applies to the acquisition of many types of alternative energy property.
The new employee classification rule simplifies the process in some ways, but it generates new questions that business owners should be prepared to tackle.
It’s important to keep up with the nonprofit trends if you are looking to build or enforce a strong foundation for your nonprofit.
Two retirement plan options to consider are to set up a SEP, a “simplified employee pension,” or a SIMPLE, “savings incentive match plan for employees.”
The IRS has said it will increase audits of small businesses by 50%. So, what audit triggers can your business look at to help avoid being targeted?
For a buy-sell agreement to be effective, you need to review it periodically and, if necessary, modify its language to reflect changing circumstances.
Are you considering buying or replacing a vehicle that you’ll use in your business? You may be able to benefit from lucrative tax rules for heavy SUVs.