Many Owners of partnerships, S Corporations, sole proprietorships, and rental real estate ventures can now earn up to 20% of their Qualified Business Income (“QBI”) tax-free through the QBI deduction.
After more than four years in the draft proposal stage and federal lawsuits, Congress recently enacted new overtime rules for white-collar workers.
Ask any security expert and they will tell you that it’s not a matter of “if”, but “when” your organization will suffer a cyberattack. And while you might think a Country Club isn’t a huge target for hackers, the reality is that no organization is safe anymore, particularly smaller entities.
Doing business overseas? Learn about the top five signs your company may need the assistance of an international tax accountant. Understanding international tax issues will position your company for future success in global business endeavors.
With increased Pentagon spending and the Defense Contract Audit Agency’s (DCAA) reduction and outsourcing of their Incurred Cost Submission audit backlog, government contractors should anticipate a significant increase in audit activity.
Nonprofits are now required to silo Net Operating Losses (NOLs) from one unrelated business activity so that it doesn’t create a reduction of taxable income from another profitable unrelated business activity.
The Virginia Enterprise Zone Program made a few changes for the 2019 grant year that may benefit Virginia companies IF they are located in an enterprise zone and installed solar panels in 2019.
Recent provisions to the SECURE Act make it easier for employees to save for retirement while employers and plan sponsors have new rules to follow for qualified retirement plans.
When business owners have divergent goals, Section 1031 contains several provisions for like-kinded exchanges and installment sales that can be used to satisfy all parties involved. Proactive tax planning can minimize and delay taxes due while allowing members to pursue their desired outcome.