Taxes

Article Highlights: Standard Mileage Rates for 2024 Business, Charitable, Medical and Moving Rates Important Considerations for 2024 Switching Between the Actual Expense and Standard Mileage Rate Methods Employer Reimbursements Employee Deductions Suspended Special Allowances for SUVs  As it does every year, the Internal Revenue Service recently

Breaking: IRS Restarts Collection Notices But Adds Penalty Relief  In a significant development to assist individuals, businesses, and tax-exempt organizations grappling with back taxes, the Internal Revenue Service (IRS) has introduced new penalty relief for approximately 4.7 million entities that did not receive automated collection

January 2024 Individual Due Dates January 2 - Time to Call For Your Tax Appointment - January is the beginning of tax season. If you have not made an appointment to have your taxes prepared, we encourage you to do so before the calendar becomes

Article Highlights: Combating Dubious Employee Retention Credit (ERC) Claims New Voluntary Disclosure Program Employer Benefits Applying for the New Voluntary Disclosure Program When the 80% is Due Installment Payment Plan Other Ongoing ERC Initiatives Claim Withdrawal Still Available The IRS has introduced a New Voluntary

As the bustle of December fades, January is a transitional month for many small business owners. This time of year generally calls for wrapping up any remaining loose ends from the previous year while diving headfirst into the new one. Readying your QuickBooks software for

In a surprising move, an Ohio state senator, Senator Niraj Antani (Miamisburg), recently introduced Senate Bill 190 aimed at slashing the state tax rate on sports betting operators in half, potentially reducing tax revenues by tens of millions annually. Currently, a significant portion of this

Successfully steering a small business involves adeptly managing its financial intricacies. Amid the myriad responsibilities, tax and accounting often prove to be a potential minefield for entrepreneurs, with common mistakes capable of significantly impacting a business's fiscal health. We will delve into each of the

In a significant development to assist individuals, businesses, and tax-exempt organizations grappling with back taxes, the Internal Revenue Service (IRS) has introduced new penalty relief for approximately 4.7 million entities that did not receive automated collection reminder notices during the pandemic. The IRS is allocating

Article Highlights: Special Transfer Option Does the Vehicle Qualify for Credit MSRP and Purchase Price Taxpayer Qualifications Modified AGI Applying for the Credit Transfer Change of Mind About the Credit Beginning in 2024, a special election allows a taxpayer purchasing a new clean vehicle or

Article Highlights: Power of Attorney Tax Information Authorization Third Party Designee Oral Disclosure In the complex world of financial and legal matters, there are times when you may need to authorize a third party to represent you when dealing with the IRS. A third-party representation