In today’s volatile market conditions, it’s important to review your accounts receivable ledger and consider writing off stale, uncollectible accounts. The methods that you’ve used in the past to evaluate bad debts may no longer make sense. Her...

The Internal Revenue Service (IRS) recently announced that Hurricane Ian victims throughout Florida, North Carolina and South Carolina now have until Feb. 15, 2023, to file various federal individual and business tax returns and make tax payments.  ...

Q: With the TJCA and CARES Act both impacting the business interest expense limitation, will you please explain the rule for the 2022 filing year? The business interest limitation reverts to the original Tax Cuts and Jobs Act (TJCA) rule for the 2022...

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Be sure to contact y...

Q: As I prepare for the upcoming filing season, are there any key business tax deductions or incentives I should be aware of and apply this year? One major tax deduction changing after this year is bonus depreciation, which is especially important fo...

Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies. Is it time for business owners to panic? Not at all. As of this writing, a full-blown recession is possi...

The Financial Accounting Standards Board (FASB) could have congressional lobbyists nipping at its heels over a “book minimum tax” rule in the newly enacted Inflation Reduction Act of 2022 (IRA). This would be the first corporate alternative minim...

The Internal Revenue Service (IRS) recently issued a notice providing penalty relief to individuals and businesses who file certain 2019 or 2020 tax returns late amid the COVID-19 pandemic. While the penalty relief is welcomed by individuals and busi...