Roth 401(k) accounts have been around for 13 years now. Studies show that more employers are offering them each year. A recent study by the Plan Sponsor Council of America (PSCA) found that Roth 401(k)s are now available at 70%…
Fake invoice scams are on the rise, and we are seeing multiple attempts from hackers trying new tricks. Fortunately, there are steps you can take to protect yourself from these attacks: Be vigilant – The scammers are getting better at…
Merger and acquisition activity has been brisk in recent years. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Stocks vs. assets From a tax…
The IRS recently announced the inflation-adjusted maximum value of an employer-provided vehicle under the vehicle cents-per-mile rule and the fleet-average value rule. Employers can use the rules to value an employee’s personal use of such a vehicle for income and…
The Bipartisan Budget Act of 2015 (BBA) created a new centralized partnership audit regime effective for taxable years beginning on or after January 1, 2018. Under IRC Section 6223(a) partnerships that can’t (or can, but don’t) elect out of the…
If you’re getting a divorce, you know it’s a highly stressful time. But if you’re a business owner, tax issues can complicate matters even more. Your business ownership interest is one of your biggest personal assets and your marital property…
The Tax Cuts and Jobs Act created a new federal tax credit for employers that provide qualified paid family and medical leave to their employees. It’s subject to numerous rules and restrictions, and the credit is only available for two…
Many taxpayers (and accountants) are astonished by the errors in the Tax Cuts and Jobs Act (TCJA) and find themselves wondering when legislative fixes will be put in place. Adding to the frustration is Congress’ failure to pass the traditional…
Recent changes to federal tax law and accounting rules could affect whether you decide to lease or buy equipment or other fixed assets. Although there’s no universal “right” choice, many businesses that formerly leased assets are now deciding to buy…
Chances are, if you own or operate a restaurant, deciding on the best food delivery service can make or break your bottom line. And with the on-demand consumer mentality, it’s important you understand the potential liability issues before you sign…