by KHA Accountants | Sep 20, 2023
On September 14, 2023, the IRS made two major press releases regarding the Employee Retention Credit (ERC). This article summarizes significant points from those releases.
by RSM US LLP | Sep 15, 2023
The IRS has temporarily halted processing of employee retention credit claims and will provide additional guidance for businesses.
by KHA Accountants | Sep 12, 2023
For any business, understanding and effectively managing the cost of customer acquisition is crucial for success. In this video, we’ll explain what it is, how it’s calculated, and how it affects a business’s profitability, cash flow, and overall growth.
by KHA Accountants | Sep 7, 2023
The Internal Revenue Service (IRS) has recently released guidance on Roth catch-up contributions under SECURE 2.0 Act. This guidance, outlined in Notice 2023-62, provides important information for individuals who are age 50 or older and participating in a retirement plan that allows deferral contributions.
by KHA Accountants | Sep 1, 2023
New requirements effective January 1, 2024 mandate electronic filing of Form 8300 to report $10,000 cash transactions
by RSM US LLP | Aug 31, 2023
This edition was updated to add new guidance on loan modifications, reflect the adoption of the CECL and leases standards, and more.
by KHA Accountants | Aug 30, 2023
After selling a business, it is crucial to update your estate plan to align with your new financial situation. This article provides and overview of common strategies to consider.
by RSM US LLP | Aug 29, 2023
This article discusses estate planning and tax considerations after the sale of a business interest or other liquidity event, including common strategies to reduce estate tax and meet charitable giving goals.
by KHA Accountants | Aug 25, 2023
The Corporate Transparency Act will require most businesses to provide beneficial ownership information to the U.S. Department of Treasury to combat money laundering. Find out who needs to report, what information is required, and when the reports must be submitted.
by RSM US LLP | Aug 10, 2023
A proposed update would require disclosing compensation, depreciation and inventory costs within income statement line items.
by KHA Accountants | Jul 26, 2023
A recent IRS Notice provides essential guidance on required minimum distributions (RMDs) under SECURE 2.0. This article reviews that Notice and provides insights into the updated rules and deadlines for RMDs, helping taxpayers navigate the ever-changing landscape of retirement planning and compliance with IRS regulations.
by KHA Accountants | Jul 26, 2023
The IRS has released additional guidance on ERC claims basing credit eligibility on supply chain disruptions. In a Generic Legal Advice Memorandum (GLAM) and IRS Notice, the IRS explores various scenarios and clarifies the requirements for employers to substantiate their claims.
by RSM US LLP | Jul 25, 2023
IRS guidance addresses full or partial suspensions of operations due to supply chain disruption for ERTC and erroneous ERTC refunds.
by KHA Accountants | Jun 27, 2023
The Internal Revenue Service (IRS) has released its yearly update to the revenue procedure controlling the implementation of accounting method changes, which may impact many taxpayers. The updated Rev. Proc. 2023-24, includes changes related to depreciation and R&D expenses, among other items.
by KHA Accountants | Jun 22, 2023
The IRS and Treasury Department have recently released guidance on the monetizing energy credits for businesses. This guidance provides clarity on the process of claiming and monetizing these credits, which can provide significant financial benefits for companies that invest in renewable energy sources.
by RSM US LLP | Jun 20, 2023
IRS and Treasury release regulatory guidance regarding the monetization of certain clean energy tax credits through direct pay and transferability
by KHA Accountants | Jun 2, 2023
Learn how Artificial Intelligence is transforming worker productivity and its impact on businesses and the labor market.
by KHA Accountants | May 27, 2023
The IRS has released warning signs to identify misleading Employee Retention Credit scams. The release also recommends simple steps for avoiding the filing of a misleading claim.
by KHA Accountants | May 25, 2023
From financial institutions to car dealerships, MFA is becoming a requirement for companies across industries. This article outlines the expanding use cases for MFA, the different features and functionalities of various MFA solutions, and the need for a holistic security strategy.
by RSM US LLP | May 24, 2023
Companies should use multifactor authentication as part of a layered security strategy that includes identity and access management which exceeds passwords.
by KHA Accountants | May 9, 2023
If your employees travel for work purposes, it’s important to understand the various methods of tracking and substantiating travel expenses so that you can maintain accurate records, control costs, and take advantage of potential tax benefits. Watch this video to learn about business travel expenses, per diem allowances, and how they affect employees and employers.
by KHA Accountants | May 8, 2023
A revocable living trust, or RLT, offers many benefits, including probate avoidance, privacy, and flexibility in managing assets during one’s life, incapacity, and death. However, despite their popularity as an estate planning tool, there are many misconceptions surrounding revocable trusts that lead to confusion and misunderstandings. Watch this video to learn about the top six misconceptions.
by RSM US LLP | May 2, 2023
Signs point to increasing credit risk in commercial real estate loan portfolios, as recent skittishness around lending has compounded existing concerns.
by RSM US LLP | Apr 25, 2023
See how the new required tax treatment of R&D costs under section 174 affects federal, state, and international taxes, as well as software development.
by RSM US LLP | Apr 19, 2023
New rules for EV credit reduce the number of eligible models after Apr. 17, 2023. The list of eligible models is likely to grow.
by KHA Accountants | Apr 7, 2023
IRAs are an important tool for many individuals when it comes to managing their long-term financial goals. IRAs are generally considered investment vehicles that are exempt from tax, but this may not always be the case.
by KHA Accountants | Apr 7, 2023
Each year, the Internal Revenue Service publishes its annual Dirty Dozen list of tax scams highlighting various schemes that put taxpayers and their financial well-being at risk. In this video, we’ll provide an overview of five of the top scams on the list.
by RSM US LLP | Apr 6, 2023
Individual Retirement Accounts (IRAs) described in section 408 are subject to the unrelated business income tax (UBIT) to the extent their gross unrelated business taxable income (UBTI) exceeds $1,000. IRA fiduciaries generally have the responsibility of filing Form 990-T, Exempt Organization Business Income Tax Return, but the tax liability belongs to the IRA.
Keeton decision: U.S. Tax Court denies a bad debt deduction – Treats advances as equity and not debt
by KHA Accountants | Mar 30, 2023
In Keeton v. Commissioner the Tax Court denied the taxpayer a bad debt deduction saying it failed to have records proving the debt.
by RSM US LLP | Mar 27, 2023
When employers pay employees with property or stock, rather than cash, special rules under section 83 apply.