WASHINGTON, D.C. — The Department of the Treasury and the Internal Revenue Service (IRS) have introduced proposed regulations mandating automatic enrollment provisions for newly established 401(k) and 403(b) retirement plans under the SECURE 2.0 Act. Set to take effect in the 2025 plan year, the new rules aim to boost participation and savings among employees.… Read More
Tax deadline 2024: When is the last day you can file taxes in 2025? Tax Day is coming, and if you are the sort who works best against a deadline, we can give you several to jot down on your calendar. When is the filing deadline for 2025? Taxes for 2024 are due for most of… Read More
IRS sending out $2.4 billion worth of stimulus checks: Are you eligible to receive one? Eligible U.S. taxpayers are set to receive payments either by direct deposit or paper check. U.S. taxpayers may be in line to receive a stimulus check by the end of January if they did not claim the Recovery Rebate Credit on… Read More
Beneath the headlines of the disease killing thousands and infecting tens of thousands worldwide sits other news: panic buying at Costco, whipsawing on Wall Street, and the specter of unprecedented disruption to everyday lives and business — all with barely five weeks to go before Tax Day. So, how are tax professionals planning on dealing… Read More
5 Benefits of Business Credit Cards for Small Business Owners Most experts agree that business owners should use a business credit card, rather than their personal card, for business expenses. Yet many small business owners continue to use their personal credit cards for business-related spending. Perhaps applying for a business credit card just hasn’t topped… Read More
Pride Socks: Business-Building Lessons From Someone Who Never Expected to Own a Business—But Is Succeeding at It Looking for tips on how to better run your small business? Need ideas for building your customer base? One small business owner shares their valuable lessons on building and maintaining their brand. Having spent 12 fulfilling years as… Read More
Tax updates aren’t always bad news. Here are a few helpful changes for the new year. A new year means a whole new set of tax laws to follow. Thankfully, these four changes are all positive ones that can put more money in your pocket in the course of 2020. A higher standard deduction Tax… Read More
What Happens if You Don’t Pay Your Taxes? Avoid stress – and steep financial penalties – by filing your taxes on time. TAX SEASON WILL BE HERE before you know it, and you may be wondering what could happen if you don’t file your 2019 returns by the April 15, 2020 deadline. For many people, filing taxes is… Read More
No one likes filing their taxes, but not filing them at all is never a good idea. The IRS is a powerful collection agency, and an unforgiving one. Getting on the bad side of the tax agency is not fun and having years of unfiled returns is one of the worst moves you can make.… Read More
Guidance issued on payments to charitable organizations Proposed regulations issued by the IRS on Friday provide guidance on the treatment of payments made to charitable organizations in return for consideration, including in return for state and local tax credits (REG-107431-19). The regulations incorporate two earlier pieces of IRS guidance, Rev. Proc. 2019-12 and Notice 2019-12,… Read More