2.5.24
Nine Tax Considerations if You’re Starting a Business as a Sole Proprietor
When launching a small business, many entrepreneurs start out as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand…
1.29.24
Update on IRS Efforts to Combat Questionable Employee Retention Tax Credit Claims
The Employee Retention Tax Credit (ERTC) was introduced back when COVID-19 temporarily closed many businesses. The credit provided cash that helped enable struggling businesses to…
1.22.24
Got Independent Contractors? Get To Know Form W-9
If your not-for-profit is perpetually shorthanded, you may have decided to engage independent contractors or freelancers to pick up some of the slack. Just make…
1.22.24
When Are Sponsorship and Advertising Payments Subject To Tax?
Sponsorship and advertising dollars can provide a real boost to your not-for-profit organization’s income. However, if sponsors or advertisers receive a “substantial benefit” or if…
1.22.24
Build a Better Nonprofit Board With Term Limits
Are your not-for-profit’s board members subject to term limits? If not, you might want to consider implementing what’s widely considered a best practice. Some board…
1.22.24
IRS Launches Pre-Filing Registration Tool for Nonprofits
Many nonprofits and other tax-exempt organizations have been waiting to claim their credits under the Inflation Reduction Act of 2022. The good news? As of…
1.22.24
Should Your Business Offer the New Emergency Savings Accounts to Employees?
As part of the SECURE 2.0 law, there’s a new benefit option for employees facing emergencies. It’s called a pension-linked emergency savings account (PLESA) and…
1.22.24
The IRS Unveils ERTC Relief Program for Employers
Since July 2023, the IRS has taken a series of actions in response to what it has termed a “flood of ineligible claims” for the…
1.18.24
Prevailing Wage – What Do I Need To Know?
Micron Technologies is slated to build a semiconductor fabrication facility in Onondaga County. The project may receive, among other things, up to $5.5 billion in…
1.17.24
There’s a New Threshold for Electronically Filing Information Returns
Does your business file 10 or more information returns with the IRS? If so, you must now file them electronically. This is a significant rule…