by Boris Benic | Jul 18, 2023 | Blog
The Employee Retention Credit has helped thousands of small businesses navigate the economic uncertainties created by the pandemic. However, a concerning trend has emerged alongside this valuable tax incentive – unscrupulous providers. Such providers and an increase in improper claims have led to increased scrutiny from the IRS, which could potentially lead to audits. Business owners must understand the risks involved and implement proactive measures to reduce the likelihood of an ERC audit.
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by Boris Benic | Jul 5, 2023 | Blog
Nobody thinks about short-term disability until they must. But it’s something employers should be familiar with because it’s likely to come up more often than they realize. That’s because almost 6% of working Americans experience a short-term disability of six months or less due to an illness, injury, or pregnancy each year. Understanding this statistic is crucial not only for your personal knowledge but also for recognizing the impact it can have on employees at your business.
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by Boris Benic | Jun 5, 2023 | Blog
Starting in 2024, 529 educational savings plans will receive a significant boost in their appeal – thanks to enhanced tax benefits. The introduction of the SECURE Act 2.0, passed into law in late 2022, brings exciting opportunities for 529 plan beneficiaries. But it’s essential to understand the rules and limitations surrounding all available choices for managing excess 529 funds. So, let’s explore these options and uncover how the SECURE Act 2.0 can shape the financial futures of students and their families.
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by Boris Benic | Jun 5, 2023 | Blog
Bonus depreciation is a valuable tax incentive that allows businesses to recover the costs of qualifying assets quicker than traditional depreciation methods. (more…)
by Boris Benic | May 31, 2023 | Blog
For many business owners, meals and entertainment play a significant role in running a successful business. And their tax deductions have been a valuable way for owners to reduce their tax liabilities each year. But you should be aware of recent changes to these deductions. (more…)
