Pain Free 401(k) Audits
If you’re responsible for your company’s 401(k) administration, you know the annual 401(k) audit can get a little stressful. The good news is there are steps you can take to make your audit pain-free.
Seven Ways the Fed Rate Cut Can Fuel Business Growth
Last month, the Federal Reserve announced a massive half-point cut to interest rates, marking the first cut since March 2020. The news has sent ripples of excitement through the business community since the shift in the economic environment creates a range of opportunities. But how exactly can business owners leverage the rate cut to their benefit?
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IRS Unveils New Digital Asset Tax Form Amidst Rising Popularity
Cryptocurrency ownership rates continue to increase: 40% of Americans now own crypto, up from 30% in 2023. And the IRS has noticed. Last month, they released a draft of Form 1099-DA – “Digital Asset Proceeds from Broker Transactions.” This will be the official tax form crypto owners and brokers will use to report digital asset transactions starting in 2025.
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Do You Know How to Respond to IRSNotice CP271 or Letter 6612?
While the IRS created a moratorium on new Employee Retention Credit (ERC) claims in September of last year, they have continued to process previously filed claims. However, increased concerns about fraudulent claims have led to a more rigorous review process.
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Maximize Your Home Sale: A Comprehensive Guide to Capital Gains Taxes
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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