The Internal Revenue Service (IRS) recently published comprehensive information on their website on tax policy for the cannabis industry, specifically the marijuana industry. The site...
If you're like most business owners who want to close the year and prepare taxes this month, there are several holiday expenses that you can deduct that can save you thousands...
The TCJA that was passed in 2017 significantly reduced the corporate tax rate and introduced the Qualified Business Income Deduction (QBID).The QBI deduction makes it possible to reduce...
As the costs, inconvenience, and safety concerns of commercial flights continue to rise, many people and businesses find using a private jet a better and more efficient form of transportation...
There is a short provision on the new tax reform bill that was just enacted which might impact how employees settle sexual harassment claims. According to section 13307 of TCJA, there...
The US tax system is set up on both the federal and the state level. There are several taxes which citizens must file. These taxes include: income tax, capital gains and sales tax....
Before leaving the United States, all foreigners (except those listed below) must obtain a "Certificate of Compliance" from the United States Internal Revenue Service. This...
The number of people that employ themselves is rising. This includes freelancers, gig workers, small business owners, and startup finders. It is not surprising that this sector is...
Posted by Elliot Kravitz, ATP on 07/16/2020
Last April 30, 2020, the IRS Notice 2020-32 was issued, and according to it, there should be no deductions for qualifying business loans that are under the Paycheck Protection Program...