Taxpayers who own commercial real estate often perform renovations or improvements to the interior portion of their buildings. These expenditures may create an opportunity for significant tax savings. The Tax Cuts and Jobs Act along with a technical correction under

Most 401k Plans must file some version of a Form 5500 annually. This form provides information to both the federal government as well as plan participants. In February 2023, the U.S. Department of Labor and the IRS announced changes to

Many of our clients wonder what is form 8879, do I need to sign this form and why does my spouse need to sign as well? The importance of form 8879 has often been overlooked. This is the final step

What is a Buy/Sell Agreement? In many aspects, a buy/sell agreement functions akin to an individual’s Will. It defines the process of transferring business interests. This legal agreement can be integrated into the organization’s bylaws or stand-alone. The intricacies involved

Employee Retention Credit (ERC) Fraud Claims – During 2023, the IRS has made increasing efforts to prevent fraudulent claims by small businesses for Employee Retention Tax Credits (ERC). In July 2023, the IRS shifted its focus to reviewing ERC claims

What is the Corporate Transparency Act Beginning January 1, 2024, many small businesses will be required to report information about their owners to the federal government.  The reporting is new and affects virtually all small businesses. In 2021, Congress passed