The tax filing deadline for 2019 tax returns has been extended until July 15 this year due to the COVID-19 pandemic. After your 2019 tax return has been successfully filed with the Internal Revenue Service (IRS), there may still be some issues to bea...

In 2017, the Tax Cuts and Jobs Act was passed allowing business owners of limited liability companies, sole proprietors, partnerships and other pass-through structures to deduct 20% of certain pass-through income under code Section 199A, effectively ...

The Financial Accounting Standards Board (FASB) recently issued ASU 2020-05 Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities, giving private companies and private not-for-profits (NFPs) an...

If you operate a small business or you’re starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should carefully record your expenses in order to claim the full amount of the tax deductions t...

The Internal Revenue Service (IRS) is offering businesses and real estate investors clarity on like-kind exchanges in its proposed regulations (REG-117589-18) released on June 11, 2020, which defines “real property” for purposes of attaining tax ...

As we approach what would have been the June 15 estimated quarterly tax payment due date, Doeren Mayhew wants to remind individuals and corporations they have until July 15 to make their payment without penalty due to the COVID-19 outbreak. Who Has t...

As shelter-in-place orders remain for employees across the United States, many businesses continue to grapple with working remotely. With uncertainty on the duration of remote work for most people, employers have concerns. How are employers impacted ...

The Internal Revenue Service (IRS) has a longstanding concern about taxpayers using debts rather than stock to gain a tax advantage: a deductible interest expense versus a non-deductible dividend distribution (especially for foreign-parent companies ...