IRS Orders Immediate Moratorium on Processing New Employee Retention Credit (ERC) Claims
On September 14, 2023, the Internal Revenue Service (“IRS”) announced an immediate moratorium on processing new claims for the Employee Retention Credit (“ERC”) through at least the end of 2023 to protect small business owners from being scammed by aggressive promoters and marketing. IR 023-169 – To protect taxpayers from scams, IRS orders immediate stop […]
New Webinar: Board Governance: Strategies & Best Practices
A corporation’s or organization’s board plays an important role in helping move it forward amid rising complexity, innovation and periodic crises while remaining true to its purpose and values. Having a strong, productive board is a significant achievement but also a constant journey. Board culture has a profound influence on the way boards carry out […]
Social Security Benefits Part II: Working & Receiving Social Security Benefits in 2023
Each year, the Social Security Administration (SSA) announces changes to retiree benefits in the month of October, which will apply to the following year. One of these changes, which is required by law, includes the Cost-of-Living Adjustment (COLA). As we wait for the SSA announcement, it is also very important not to lose sight of […]
Estimated Corporate Tax Payment Requirements
Estimated tax payments are in place to ensure that the taxpayer is on the pay-as-you-go method since taxes must be paid as income is earned. A corporation must estimate its taxable income for each quarter and are required to make estimated tax payments if they expect to owe at least $500 or more in taxes […]
Economic Outlook – Mid-2023 #2
As we surpass the halfway mark of 2023, the lingering question remains whether a recession is on the horizon. Current short-term interest rates are now higher than long-term rates. Historically, that relationship has been a recession indicator. Interest rate increases implemented by the Federal Reserve from March 2022 through May 2023 have dramatically raised the […]
Update on Student Loan Forgiveness & COVID-19 Student Loan Pause #2
Since our last update on student loan forgiveness in late 2022, there have been several new developments that we will unpack in this article. As certain pieces of the forgiveness program made their way to the U.S. Supreme Court, an update on that ruling will also be provided along with key information on the status […]
Amazon Business/QuickBooks Integration
In the competitive and fast-paced world we live in today, businesses strive to stay one-step ahead by embracing innovative tools that streamline processes and drive efficiency, productivity and profitability. Among these tools is the Amazon Business Purchases App, which seamlessly transfers all your Amazon purchases to QuickBooks, enabling easy review and categorization. Note: this App […]
Beware of Tax Scams
The Internal Revenue Service (IRS) recently issued a warning to taxpayers to be on the lookout for a new scam that tries to mislead people into believing that they are owed a tax refund. The new scheme involves a mailing in a cardboard envelope from a delivery service. The letter includes the IRS logo and […]
Our Latest Small Business Newsletter is Here! #2
Summer may be coming to a close, but our desire to provide you with helpful and practical information never stops. Our Summer Small Business Newsletter can be read/downloaded here at your convenience.
Webinar Rewind: Sales Tax – Myths and Legends #2
If you missed our July 18th live webinar on “Sales Tax – Myths and Legends,” you missed an informative and engaging discussion by two of our State & Local Tax (SALT) leaders, Tom Mazurek, CPA, Partner, and Gerad Levey, Senior Analyst. But good news – you can watch this recorded webinar at your convenience by […]