The Good News: IRS Waiving Penalties The IRS is generally waiving the penalty for any taxpayer who paid at least 85 percent of their total tax liability during the year through federal income tax withholding, quarterly estimated tax payments or…
The IRS is moving at a slow crawl due to the federal government shutdown, but don’t let the situation slow you down in preparing to meet with your tax advisor. “The IRS announced it will begin processing tax returns on…
Update 1/8/19: The IRS has just confirmed that, despite the current government shutdown, it will begin processing 2018 tax returns on January 28, 2019 and will provide refunds to taxpayers as scheduled. As 2019 begins, we are wading into unknown…
As the year winds to a close, most businesses see employees taking a lot of vacation time. After all, it’s the holiday season, and workers want to enjoy it. Some businesses, however, find themselves particularly short-staffed in December because they…
Under the Tax Cuts and Jobs Act (TCJA), many more businesses are now eligible to use the cash method of accounting for federal tax purposes. The cash method offers greater tax-planning flexibility, allowing some businesses to defer taxable income. Newly…
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to…
In today’s tightening job market, to attract and retain the best employees, small businesses need to offer not only competitive pay, but also appealing fringe benefits. Benefits that are tax-free are especially attractive to employees. Let’s take a quick look…
The Tax Cuts and Jobs Act (TCJA) didn’t change the federal tax credit for “increasing research activities,” but several TCJA provisions have an indirect impact on the credit. As a result, the research credit may be available to some businesses…
You’ve spent years building your company and now are ready to move on to something else, whether launching a new business, taking advantage of another career opportunity or retiring. Whatever your plans, you want to get the return from your…
Kerri S. Reisdorff, an employment attorney with Ogletree, Deakins, Nash, Smoak & Stewart, P.C., talked to us about the importance of having up-to-date employee handbooks at your restaurant. Mize Houser: “Kerri, restaurant owners don’t always believe that having employee handbooks…