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4 min read
How Outsourcing Can Transform and Facilitate Month-End and Year-End Close
The decision to supplement current accounting operations can be inherently challenging, and there are potential benefits to outsourcing.
3 min read
Top Tax Issues Pass-Through Entities Should Consider in 2025
Pass-through entities, including partnerships, S corps, and LLCs, can benefit from tax advantages due to their structure.
1 min read
BOI Reporting Requirements Enforcement Halted Again
Appeals court reinstates injunction that halts FinCEN BOI enforcement
1 min read
Journal of Accountancy: Court Halts BOI Reporting
A federal district court, finding that the Corporate Transparency Act (CTA) is likely unconstitutional.
4 min read
Connecticut’s Updated Paid Sick Leave Law: What Employers Need to Know
Effective January 1, 2025, Connecticut’s revised Paid Sick Leave Law will require major updates from employers across the state. With...
7 min read
2024 Year-End Tax Planning for Individuals
With rising interest rates, inflation, and continuing market volatility, tax planning is as essential as ever for taxpayers looking to...
70 min read
2024 Year-End Tax Planning Guide for Businesses
Tax Accounting Methods Corporations and pass-through entities may have opportunities to effectively improve their federal income tax...
5 min read
Aligning Your Financial Due Diligence Purpose and Process
Does your foundation’s financial due diligence process align with your purpose and values? What did we learn from a landscape analysis of...
2 min read
Positioning Your Construction Business for Success
As the construction industry evolves, so must your approach to ensuring your business not only survives but thrives over time. By...
2 min read
Rethinking Retirement: Adapting to Modern Realities
The traditional concept of retirement is undergoing significant changes. No longer does retiring always mean working until you...
2 min read
Three Ways To Reduce Income Tax Reporting Risk
In a complex reporting environment in which public company filings are highly scrutinized, properly accounting for and disclosing income...
3 min read
IRS Issues Procedural Guidance on Section 174 Accounting Method Changes for Taxpayers with Short Taxable Years
On August 29, 2024, the IRS issued Rev. Proc. 2024-34, which provides modified procedural guidance permitting taxpayers with short...
4 min read
DOL Releases Final Rule to Increase Salary Thresholds for FLSA White-Collar Exemptions
The U.S. Department of Labor (DOL) issued a final rule that updates and revises the regulations issued under the federal Fair Labor...
6 min read
IRS Adopts Final Digital Asset Tax Reporting Rules with Some Revisions
The IRS on June 28 issued final regulations on information reporting for digital asset transactions. The final regulations require...
6 min read
The Joys of Home Ownership: Balancing Financial Support and Tax Consequences with Real Estate Wealth Transfer Strategies
For high-net-worth individuals, the art of wealth transfer extends beyond merely providing financial assistance to future generations; it...
4 min read
IRS Proposes Cutback in Interest Capitalization Requirements for Property Improvements
The IRS on May 15 published proposed regulations (REG-133850-13) that would remove the “associated property rule” and related rules from...
2 min read
Don't Fall for Tax Scams: IRS Provides Warning
The IRS issued IR-2024-139 in May warning about tax scams involving claims for the fuel tax credit, sick and family leave credit, and...
1 min read
IRS Struggles to Combat Misinformation on TikTok
Going to TikTok for tax advice? You may want to think again. The IRS is facing a unique challenge in combating bad tax advice circulating...
3 min read
Navigating the Terrain of the 2024 Revised Uniform Guidance
In the realm of federal financial assistance, the landscape is evolving. With the U.S. government disbursing over $1.2 trillion in...
2 min read
IRS Form W-9 Revision Adds New Reporting Line on Foreign Partners and Beneficiaries
The IRS in March released a final 2024 revision of Form W-9, “Request for Taxpayer Identification Number and Certification,” as well as...
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