With the changes happening in Washington D.C., there is now some uncertainty about what tax policies we may see in 2025 and beyond. During this time of uncertainty, it is challenging to create a workable…

Upcoming Tax Deadlines March 17, 2025 Deadline to file partnership and S-corporation tax returns. April 15, 2025 Deadline to file individual, trust, gift and calendar-year C-corporation returns. Deadline for making 2024 IRA contributions. First installment…

The clock is ticking! The deadline to file 1099-NEC forms for non-employee compensation is January 31st. If you paid $600 or more last year to vendors such as freelancers, attorneys, and anyone providing you services,…

The IRS typically offers relief, such as extending tax filing and payment deadlines, for areas designated by the Federal Emergency Management Agency (FEMA). Individual and business taxpayers in these disaster-affected regions automatically receive this extension,…

The IRS is urging businesses with pending or previously-approved Employee Retention Credit (ERC) claims to review their filings carefully. Incorrect claims could lead to audits, repayments, penalties, and interest. Background The ERC was introduced to…

As a business owner, the new year isn’t just a fresh start—it’s a perfect opportunity to review key areas that can impact your success in 2025: Insurance coverage Meet with your insurance agent annually to…

January 1, 2025 – ON HOLD Deadline to file initial beneficial ownership information (BOI) for reporting companies created or registered prior to January 1, 2024. [Update: FinCEN’s BOI requirements were suspended in early December, reinstated…

As summer heats up, it’s the perfect time for businesses to strategically plan ahead for taxes and find ways to save in 2024. Consider implementing these five tax planning ideas: 1. Review employee benefits. An…