The Internal Revenue Service announced on December 14, 2023 an increase in the standard mileage rates for 2024.   2024 Mileage Rates The new standard mileage rate for business travel will be 67¢ per mile….

2024 is quickly winding down. While there is still time for last-minute individual tax moves to make, it’s also the final chance to consider these year-end tax moves for your business in order to have…

Winter Tax Deadlines January 16, 2024 Due date for 4th installment of 2023 individual estimated tax. Consult with your CPA if any payments should be made before 12/31. January 31, 2024 Due date for employers…

1099-K Reporting for Digital Transactions By now most taxpayers are aware of Form 1099-K, which requires third-party settlement organizations and payment processors (such as Venmo, PayPal, Stripe, etc.) to issue a 1099-K when transactions exceed…

A Cost Seg­regation Study is a tax strategy where elements and components of a commercial property are segregated into different categories and classes in order to accelerate depreciation for those different assets. This allows building…

Update as of October 2023: With the recent rise of Employee Retention Credit scams and schemes, the IRS has announced a new withdrawal process for Employee Retention Credit claims. This new initiative aims to help…

Upcoming Tax Deadlines September 15, 2023 • Third quarter individual estimated tax payments for 2023 are due. • Filing deadline for extended 2022 S-corporation and partnership returns. October 16, 2023 • Filing deadline for extended…

As summer comes to a close, fall is a great time to start looking at ways to cut your business’s 2023 tax bill. Consider these ideas; Review employee benefits. Benefit programs are often one of…