Employee Retention Credit: Further Guidance
In COVID Tax Tip 2021-123, the IRS clarifies some of the confusion surrounding the powerful but complex Employee Retention Credit. The IRS is addressing changes made
IRS Reminds Taxpayers of Limited-Time Donation Rules
The rules governing the deduction of charitable contributions can be pretty strict. However, legislation has relaxed a number of them as long as donors take
SSA Updates Key Numbers for 2022
The Social Security Administration reviews key numbers each year and usually makes adjustments. In a recent release, the SSA announced what is and is not
Section 174 Research Deduction Changes for 2022
The IRS will require business owners to amortize Section 174 research expenses over multiple years instead of deducting them in the year incurred unless a
Taxable and Nontaxable Employee Benefits
As the unemployment rate falls from its 2020 high, employees are switching jobs in record numbers. The new stability in the economy means workers have
What Nonprofits Need To Know About Form 990
Nearly all the approximately 1.74 million organizations recognized as tax exempt by the IRS must file Form 990 or another form in the same series
What Papers Do You Need To Save?
Sometimes it feels good to get rid of clutter. Cleaning out papers we have kept for years is a good project. But there are some
A 2021 Update on Tax and Education Credits
Taxpayers who have to write big checks for higher education can see tax savings when filing tax returns next year. If you, your spouse or
Know the Basics of Business Valuations
A business valuation can serve any of several purposes, but the goal is always the same: to find out the value of your business in
