Tag: Business Advisory

As part of its continuing fight against questionable Employee Retention Credit (ERC) claims, the IRS recently announced a voluntary disclosure program for employers. Under the program, businesses can "pay back the money they received after Read More

As you know, change orders are an inherent part of the construction industry. Alterations to the original design, specifications, execution methods or scope of a job can impact the budget and timeline. And when not Read More

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. Read More

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. Read More

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 Read More

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 Read More

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 Read More

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 Read More

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 Read More

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 Read More