The Tax Cuts and Jobs Act of 2017 significantly reduced the ability of a business to deduct the cost of transportation fringe benefits provided to their employees, unless the annual cost of the benefit is included in taxable wages on…
Federal government employees aren’t the only ones shouldering an extra load during the federal government shutdown. Employers are taking on the burden of trying to keep track of Forms I-9 that need to be completed or updated despite no access…
An update on our previously posted article... The Internal Revenue Service has announced it will issue refunds to taxpayers even if the federal government shutdown extends into tax season. In previous shutdown situations, the IRS accepted tax returns but delayed…
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…