The latest Developments in the IRS Initiatives Against Suspicious Employee Retention Tax Credit Claims

The Employee Retention Tax Credit (ERTC) was established during the temporary closure of numerous businesses due to COVID-19. This credit offered financial assistance, allowing struggling businesses to retain their employees. As per the IRS, an influx of “questionable” Employee Retention Tax Credit (ERTC) claims started coming in, with promoters falsely suggesting that substantial tax refunds […]

Thinking about using IRAs to save for retirement?

Traditional and Roth IRAs have been a popular way to build your retirement for many years. New rules enacted through Secure 2.0 make them even more advantageous to taxpayers. So what are the new changes to IRAs? Rules for traditional IRAs You can make an annual deductible contribution to a traditional IRA if: You (and […]

A new benefit option is available as a part of SECURE 2.0

A Pension-linked emergency savings account (PLESA), a part of the SECURE 2.0 act, is now available for plan years beginning January 1, 2024. If adopted by a Plan Sponsor, certain employees could make after-tax Roth contributions to a PLESA account to pay emergency expenses. You can find Guidance in Notice 2024-22 and frequently asked questions […]

Account-based marketing can help companies rejoice in ROI

When thinking about marketing, some business owners and leadership teams will “cast a wide net” in order to maximize on business. If your company is looking to build business-to-business sales, a generalized marketing approach could leave some potential customers feeling like they received a vague response or the provider does not really know them. Account-based […]

Qualified Small Business Corporation status could help save on taxes

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains QSBCs are the same as garden-variety C corporations for tax and legal purposes — except QSBC shareholders are potentially eligible to exclude from federal income tax 100% of their stock sale gains. That […]

Has your business purchased a software that does not meet it needs?

Making mistakes is something nobody enjoys, and this sentiment is particularly heightened in the business realm, where an erroneous decision can cause financial losses, wasted time, and resource depletion. Recent survey findings shows that a significant number of companies are incurring substantial costs by purchasing inappropriate software. The report in question is the 2024 Tech […]