New Threshold for Filing Electronic Information Returns Kicked In Jan. 1
If your business files 10 or more information returns, you must now file them electronically. This is a significant rule change that went into effect on January 1, 2024, for 2023 tax year information returns.…
- Kirsch CPA Group
- Jan 15, 2024
Unlock Tax Savings for Your Business – Work Opportunity Tax Credit (WOTC)
As we turn the page to a new tax year, now is the time to start planning for tax savings opportunities for tax year 2024. The Work Opportunity Tax Credit (WOTC) is one potential opportunity.…
- Matt Harper
- Jan 03, 2024
IRS Delays $600 Form 1099-K Reporting Threshold
Businesses and individuals concerned about the confusing 1099-K reporting requirements can breathe a sigh of relief: On November 21, 2023, the IRS announced that the deadline for the new $600 reporting threshold won't go into…
- Kirsch CPA Group
- Jan 03, 2024
Pay Attention To These 6 Tax-related Items in 2024
What's the tax outlook for manufacturers as 2024 begins? While certain provisions of the Tax Cuts and Jobs Act (TCJA) begin to phase out, other tax laws, including the Inflation Reduction Act (IRA) and the…
- Kirsch CPA Group
- Jan 02, 2024
How Construction Company Owners Can Build a Succession Plan Framework
At some time or another, construction company owners must hang up their hard hats. But what will happen to your business when you retire or move on to the next professional opportunity? And what if…
- Kirsch CPA Group
- Jan 02, 2024
Is Your Business Subject to the New BOI Reporting Rules?
Starting January 1, 2024, an anticipated 32.6 million businesses will be required to comply with new beneficial ownership information (BOI) reporting rules under the Corporate Transparency Act (“CTA”). BOI reporting involves the disclosure of information…
- Cassidy Hicks
- Dec 06, 2023
Construction Companies: Lean Into Tech to Optimize Accounting and Financial Management
The construction industry is renowned for its quality craftsmanship. However, it's also sometimes known for a historical reluctance to adopt new technology. When it comes to your construction company's accounting and financial management, there's never…
- Kirsch CPA Group
- Dec 05, 2023
Year-End Review of S Corp Compensation: Stay on the Right Side of the IRS
With 2024 right around the corner, your shareholders might be thinking about year-end bonuses or distributions. Before doing so, it's important to review the potential tax implications and requirements. Distributions vs. Bonuses S corporations…
- Kirsch CPA Group
- Dec 04, 2023
7 Fringe Benefits for Nonprofit Employers to Offer
One of the biggest challenges facing not-for-profit organizations is finding and retaining top-quality talent. It's hard enough to overcome the perception — often a misconception — that nonprofits don't pay their employees nearly as well…
- Kirsch CPA Group
- Dec 02, 2023
Thinking Beyond the Paystub: 4 Best Practices for Maximizing Labor ROI
Economic uncertainty and challenging market conditions like the current environment often have business owners reaching for the calculator and thinking about their labor costs. It’s not an unreasonable instinct in tough times: labor costs are…
- Anthony Lewis
- Nov 29, 2023