The House of Representatives passed The Inflation Reduction Act (IRA) Friday, August 12, and President Joe Biden signed into law August 16. The legislation was passed through the budget reconciliation process and is expected to pay for itself and decrease the budget deficit.
A merger or acquisition rarely runs smoothly. Having the right professionals on your team and knowing what questions to ask can help ease any tax challenges. Here are eight questions to help transition from separate entities to consolidated or subsidiary status.
With inflation rates reaching historical highs and driving up the cost of doing business, business owners are seeking out creative ways to fight inflation. The Series I Savings Bond is one tool that’s been getting some buzz.
The Internal Revenue Service will raise the optional standard mileage rate for the final six months of 2022 to help offset the rise in gas prices nationwide.
Receiving an audit notice from a state tax authority is one of the worst feelings a small business can have. Unfortunately, as states pursue tax collection, sales and use tax audits have become a standard part of doing business. If your business is undergoing a sales tax audit or is worried about dealing with one in the future, here are four tips to navigate, prepare for, and avoid a sales tax audit.
For many businesses, it’s been a minute since they’ve had to account for employee travel expenses. So it might be time for a refresher on which expenses are tax-deductible, which aren’t, and what pandemic-related tax incentives are available.
With the global cryptocurrency market surpassing the $3 trillion mark, businesses may want to explore the benefits and risks of crypto for their operations.
The IRS continues to work through a backlog of millions of paper-filed returns and correspondence from the 2021 tax filing season. Add staffing challenges and congressional underfunding to the issue, and trying to track down a missing refund or deal with an unexpected tax notice is bound to be frustrating.
The new K-2 and K-3 schedules standardize international tax information to partners and flow-through investors while clarifying obligations and standardizing the reporting format.
Here are three steps you can take to boost security at your business and keep scammers at bay.
