Employee Retention Credit Fraud Remains a Top Risk
The IRS has warned taxpayers about pandemic relief fraud before. Employee retention credit fraud is now so widespread that the IRS added it to its annual list of Dirty Dozen tax scams.
What Government Contractors Need to Know about PTET
Understanding the rules and laws governing PTETs and various state rules, as well as GAAP guidance, can help make sure government contractors remain compliant and efficient.
IRS Significantly Expands Mandatory e-Filing Requirements for Business Income Tax and Informational Returns Starting in 2024
The Internal Revenue Service (IRS) issued significant final regulations requiring most businesses to begin electronically filing certain kinds of business income tax and informational returns starting in 2024 for any returns first due after January 1, 2024.
§179D Energy-Efficient Commercial Building Deduction Expanded to Benefit Non-Profit Organizations
For businesses contemplating a commercial project, the §179D deduction, a provision from the Inflation Reduction Act, is now available for any qualifying commercial energy-efficient building.
PTETs: Considerations & Planning Opportunities
In a previous article, we outlined the background, benefits, and challenges of PTE tax (PTET) regimes. In this article, we address core considerations and planning opportunities.
A New Frontier in State Taxation: Pass-Through Entity Tax
Designed to eliminate the adverse impacts of the SALT cap, the Pass-Through Entity Tax (PTET) is an optional state income tax that taxpayers may elect to use. However, before deciding whether a PTET election is the right move, there are a variety of issues to consider.
Webinar Recording | Pass-Through Entity Tax: A New Frontier in State Taxation
Watch the recording from our December 7th webinar for insights on the Pass-Through Entity Tax (PTET), an optional state income tax that Pass-Through Entity taxpayers may elect to use.
This Could Be a Good Time to Convert to a Roth IRA
If you're like many who are saving for retirement, the value of your retirement accounts has dropped considerably during 2022. It may be time to consider converting to a Roth IRA.
Webinar Recording | Top 10 Tax Strategies for 2022
Join PBMares on November 16 to discover the top 10 tax strategies businesses and individuals should consider before year-end, including traditional tax strategies, charitable planning, and Roth IRA conversions.
Increase in Social Security Wage Base, Wage Caps and Benefit Amounts Announced for 2023
The Social Security Administration recently announced their annual inflation changes to the Social Security wage base, annual wage cap, and benefit amounts that will be effective January 1, 2023. These 2023 inflation increases are the largest percentage increases since 1981 and the fourth-largest increase ever for the Social Security program.