IRS offers a withdrawal option to businesses that claimed ERTCs

IRS offers a withdrawal option to businesses that claimed ERTCs

Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses’ concerns about the validity of their claims for this valuable, but complex, pandemic-related credit — and the potential consequences of an invalid...
Tax news for investors and users of cryptocurrency

Tax news for investors and users of cryptocurrency

If you’re a crypto investor or user, you may have noticed something new on your tax return this year. And you may soon notice a new form reporting requirements for digital assets. Check the box Beginning with tax year 2022, taxpayers must check a box on their tax...
What you need to know about the 1099-K $600 threshold delay

What you need to know about the 1099-K $600 threshold delay

Late December, the IRS postponed the $600 reporting requirement that was scheduled to take effect in 2023, flooding taxpayers with 1099-K forms…and potential confusion. What is it? As part of the American Rescue Plan Act, the reporting threshold was lowered from 200...
The law that could affect your 1099-K and your 2022 tax bill

The law that could affect your 1099-K and your 2022 tax bill

It has become a de facto standard, a lot of us do it. Over the past few years, apps like PayPal, Venmo, CashApp, and Zelle have made it easy and convenient to pay and accept payments for personal and business transactions.  Until 1/1/22… It wasn’t required for...

Two Secrets Every Entrepreneur Needs To Know

Late last year, we were honored to have a seat on stage at Thomson Reuters’ Synergy conference.  We had the opportunity to share what we were doing as a firm to help our clients be successful so that other firms could learn and be inspired. What stands out most...