Whether you are setting up a new company or you have been in business for years, you need to evaluate which legal structure is best for your enterprise.
Advantages & Disadvantages of S Corporations
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Business
Tax Relief for American Families and Workers Act of 2024
On January 19, 2024 the House Ways and Means committee approved the Tax Relief for American Families and Workers Act of 2024.
Irs Issues Voluntary Disclosure Program For Employers to Pay Back Questionable Employee Retention Credits (ERC)
The IRS issued Announcement 2024-3 on December 21, 2023 to roll out the Voluntary Disclosure Program. The program is a process to pay back the ERC credit for recipients who believe they received it in error.
Understanding the Corporate Transparency Act
Effective from January 1, 2024, new and existing business entities (with exceptions) must comply with
the CTA
The Process of Analyzing Overhead
Analyzing overhead is a critical process that businesses undertake to optimize cost efficiency and ensure effective resource allocation. Overhead costs consist of a wide range of non-direct expenses incurred during the production or operation of goods and services.
IRS Pauses Processing of New ERC Claims
The IRS has released notice that they will be suspending the processing of new claims for the Employee Retention Credit (ERC) for the remainder of 2023.