The IRS has just introduced a new opportunity for employers to rectify questionable Employee Retention Credits (ERC) through the Voluntary Disclosure Program. Aimed at providing a discounted repayment option, this initiative presents a valuable chance for businesses to address potential discrepancies in their ERC claims. Let’s explore the key aspects of the IRS’s new initiative.
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In a move to enhance corporate transparency and mitigate financial crimes, the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Department of the Treasury, has implemented the Corporate Transparency Act, effective January 1, 2024. Understanding the implications of this new filing requirement is crucial to business owners and executives.
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Are you thinking of selling your primary residence? Before you take that leap, it’s essential to understand the ins and outs of potential capital gains tax to avoid any unwelcome surprises come tax season. Let’s delve into the basics and exceptions to ensure you’re well-informed about what’s ahead. You don’t want to incur a larger-than-necessary tax bill.
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In an effort to safeguard small businesses and organizations from unscrupulous scammers, the IRS has introduced a withdrawal process for those who have filed an Employee Retention Credit (ERC) claim and have concerns about its accuracy.
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So, you’ve decided to sell your business and start a new chapter in your life. Whether it’s for retirement or another well-thought-out reason, ensuring a seamless transition is crucial. To help you navigate this significant undertaking, we’ve put together a comprehensive checklist for selling a business.
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Running a successful business involves making wise financial decisions, including knowing when to make big-ticket purchases for your company. Whether you’re looking to upgrade your office furniture, invest in new technology, expand your vehicle fleet, or acquire real estate, timing is crucial for securing the best deals.
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