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What the One Big Beautiful Bill Means for Business owners
After our previous post for taxpayers and how the One
Mid-year Financial review – Tax changes & BOI compliance – Recording available in YouTube
Our colleagues from NJ SBDC have posted the Mid-year Financial review seminar from mid-June 2024 in Youtube. We
Do not rely on Tiktok tax advice – Check with a reputable professional!
In mid June 2024, Victor Garrido attended an IRS conference "Working Together" where the IRS made presentations on
Bipartisan Budget Act of 2015 first results of partnership audit procedures
As the IRS is increasing the attention on partnership returns, especially those with higher asset value or more
Educational assistance program – benefits up to $5,250 are not compensation (box 1 – w2)
In the IR-2024-167, the IRS shares the Frequently Asked Questions and general guidance on how the employee's w2
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IRS Budget and Workforce for 2023 – Relevant data that you should know
The IRS shares details on how its budget is allocated to resources, the composition of its workforce, and many other details that
Crowfunding contributions might be considered gifts, equity or gross income
In the FS-2024-28, the IRS reminds us how to treat crowdfunding transactions. Note that there were several articles and posts published related
Cohan rule – Use of estimates for allowable business deductions without documentation
The Cohan rule originated from a case from 1930, but it is still applicable and used to this date. The Cohan rule