The Employee Retention Credit (ERC) is a valuable tax incentive introduced by the United States government to help businesses retain employees during challenging economic times. Originally...
Posted by Pat Raskob on 11/30/2023
The BEAT (Base Erosion and Anti-Abuse Tax) was enacted in 2017 to discourage U.S. and foreign companies from evading their tax obligations by shifting their profits out of the United...
The legality of marijuana in many American states is questionable. However, medical marijuana can easily be obtained via a doctor’s prescription and is legal in 34 states. Also,...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 10/24/2021
All workers and employers in the service industries where tips occur should abide by the relevant tax rules. One needs to pay income tax, Medicare tax, and Social security taxes on...
A cannabis business can typically expect a series of scrutiny from the IRS that will want to penalize them if they are not compliant. Here are tips that can help your marijuana business...
Almost every section of the tax code was changed by the 2017 TCJA, which also affected every taxpayer, including businesses. While some of these changes were positive (reduced tax...
The tax that exists on all business income differs in various states. While some US states tax corporations strictly, others tax many forms of businesses. Various states have different...
There are some rules from section 451 (c) as amended by the TCJA, which makes available ways to have advance payment in income for the tax year that it was obtained.The amendment of...
Posted by Elliot Kravitz, ATP on 11/07/2020
The base erosion and anti-abuse tax apply to some corporations that make "base erosion payments." Formed as part of the Tax Cuts and Job Act (TCJA), BEAT accrued in taxable...
Posted by Carmen Garcia on 04/02/2020