Aggressive marketing encouraging businesses to claim the pandemic-related Employee Retention Credit led to many taxpayers erroneously receiving refunds. The IRS has a program that allows them to come forward and repay part of the money before collection efforts begin.
Small Business
Your Weekly ReadYou may qualify for a tax credit for employees who receive tips
If you’re a restaurant owner with employees receiving tips, you may qualify for a lucrative tax break.
Defer a current tax bill with a like-kind exchange
The real estate market has been tough recently. But there are still large profits being made on some business property. In these cases, a “like-kind” exchange may be attractive when selling commercial or investment real estate.
Is your business subject to the new BOI reporting rules?
Many businesses, including small ones, may be subject to new beneficial ownership information reporting rules under the Corporate Transparency Act. Here’s what you need to know.
Valuations can help business owners plan for the future
Most business owners know that a valuation will be necessary if they decide to sell their companies. But there are other reasons to consider engaging a qualified appraiser.
Divorcing business owners should pay attention to the tax consequences
Divorce can be financially complicated, especially if one or both of the spouses owns a business.
What types of expenses can’t be written off by your business?
As a business owner, expenses can be written off in order to save you money. What things can’t be written off?
Look carefully at three critical factors of succession planning
When making a succession plan, business owners will want to consider these three critical factors.
Update on depreciating business assets
Inflation has some beneficial side effects. One is that the amount of depreciation tax breaks your business can claim has increased for 2023.
Planning ahead for 2024: Should your 401(k) help employees with emergencies?
The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able to provide more help to staff members facing emergencies. This will be done through what the law...
Washington, NC 27889
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Friday
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