How is value determined? An entity is valued by determining the economic benefits created by the business.  Economic benefits in this instance are increases in company resources from inflows of cash or increases in assets.  This is primarily done by

New Year, New You!  Or, maybe not.  Not everyone likes the idea that a new year requires a resolution for change.  But, the IRS does, and one thing you can count on is a change to your taxes.  Maybe the

Here’s a recent update on the Employee Retention Credit (ERC) and the new IRS payback scheme. New IRS ERC Payback Program The IRS introduced a second ERC Voluntary Disclosure Program for 2021 claims. Under this program, you can say, “I

Here are some important updates and strategies regarding Social Security and Medicare taxes that may significantly impact your business. For 2024, the Social Security tax ceiling increased to $168,600, resulting in a maximum Social Security tax of $20,906 for high-earners.

If you run your business through a regular “C” corporation, beware of the accumulated earnings tax (AET). The IRS can use the AET to penalize C corporations that retain earnings in the business rather than pay them to shareholders as

Were you self-employed during 2021? If so, there is a good chance that you could have qualified for COVID-19 sick and family leave credits worth as much as $32,220. If you’re like many self-employed individuals or partners, you probably never