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In today's Tax Thursday in Three, Bergin Fisniku gives an update on the federal government shutdown and how it affects the IRS, upcoming filing deadlines, and audit activity. This is one you won't want to miss – watch it below.
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.
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Tax Alert – Tax relief for Section 1031 exchanges in the aftermath of Hurricane Helene
The IRS has extended tax deadlines to May 1, 2025, for individuals and businesses in areas affected by Hurricane Helene, including Alabama, Georgia, North Carolina, South Carolina, and parts of Florida, Tennessee, and Virginia. This relief provides significant benefits for real estate investors completing Section 1031 exchanges, offering extended deadlines for identifying and purchasing replacement properties.
Port strike strains supply chain
A tentative agreement between the International Longshoremen's Association (ILA) and the US Maritime Alliance (USMX) ended a two-day strike, averting a potential $5 billion economic impact. While supply chain disruptions were minimal, this event underscores the importance of proactive risk management, inventory buffers, and diversified logistics strategies to mitigate future disruptions.
The importance of SOC 1 reports in financial services
Strengthen trust and compliance in financial services with a SOC 1 report, demonstrating robust internal controls and regulatory adherence. Learn how SOC 1 enhances credibility, mitigates risks, and sets your institution apart in a competitive market.
Overcoming frustration in inventory management: Key strategies for success
Effective inventory management is essential for business success, helping to balance stock levels, reduce waste, and improve customer satisfaction. By leveraging automation, demand forecasting, centralized data, and a strong supply chain, businesses can streamline operations and eliminate common inventory frustrations.
South Carolina's durable medical equipment sales tax exemption found unconstitutional
The South Carolina Supreme Court has ruled the state's sales tax exemption for Durable Medical Equipment (DME) unconstitutional, effective June 26, 2024. Entities selling DME in South Carolina must now collect and remit sales tax, while out-of-state businesses may be eligible for refunds on past sales.
