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Is your business struggling with a shortage of skilled workers in today's tight labor market? One possible option is to invest in education programs to upskill your current employees. This strategy can help bridge the skills gap at your workplace and build loyalty among workers. Plus, the education… Read more
In 2021, Congress enacted the Corporate Transparency Act (CTA) to enhance transparency in entity structures and ownership to combat money laundering, tax fraud, and other illicit activities.
In a tight labor market, paid family and medical leave is rapidly becoming more of an expected benefit than just a perk. The good news is the Section 45S federal tax credit for family medical leave programs can help your organization recruit and retain skilled workers while also cutting your tax…
Once the 2023 tax year is over and the numbers are generally set in stone, you can itemize deductions on your federal income tax return if your total allowable itemized write-offs for the year exceeds your standard deduction allowance for the year. Otherwise, for 2023, you will claim the standard…
The flat 21% corporate federal income tax rate ushered in by the Tax Cuts and Jobs Act made the idea of operating your business as a C corporation more attractive than before. The flat 21% rate applies to both "regular" C corporations and C corporations that are classified as personal service…
The gift tax exclusion is among the most valuable tools available to transfer assets to family and other loved ones without ending up with an unwelcome tax bill for the givers or recipients. Year end often is a busy time for gifting, as taxpayers move to take advantage of the annual exclusion.…