If you personally or jointly own a foreign financial account, you may have to file a FinCEN Report 114, “Report of Foreign Bank and Financial Accounts” (FBAR).In February 2023, the U.S. Supreme Court ruled in…
In a continuation of our series on closely held business succession planning, our next few articles discuss the implications of buying or selling a closely held C-Corporation, S-Corporation, or Partnership/Limited Liability Company (LLC). These transactions…
Thank you to those who were able to attend the 2nd Quarter Update webinar on June 29th. We hope you found the information valuable and educational. Please note, for those eligible for CPE, certificates will be…
Effective cash flow management is critical for the success of any business. Here are some key strategies for managing cash flow in e-commerce: Manage Inventory Levels: Keeping inventory levels in check is essential for cash…
South Carolina tax credits provide small business owners with opportunities to maximize tax savings and reduce either Corporate or Individual Income Tax. Here are some credits to potentially explore: Small Business Jobs CreditEligible businesses with…
In this edition of our quarterly accounting and reporting update, we have highlighted the regulatory focus on third-party risk management and common CECL findings identified during model validations and audit procedures. In addition to the…
Since the Employee Retention Credit (ERC) first became law as part of COVID-19 pandemic relief legislation, the IRS has made enforcement of the ERC a major focal point. The IRS is aware that there are…
While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation Hidden Treasure to root out taxpayers who don’t report income…
By Garrett Becker Do you struggle with data modeling and data sources? Our team of certified Microsoft Power BI analysts have been working with our customers to leverage the end-to-end platform to create powerful insights into…
President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as opposed to raising —…
by Bergin Fisniku As part of the Biden administration’s efforts to incentivize the use of clean energy technologies, the Inflation Reduction Act of 2022 (“IRA”) contains enhancements to several existing federal tax credits, as well…
Technology has become central to all business operations today. Lack of adaptability in systems and processes, just like dated technology and skills gaps, can be costly for companies trying to compete with the high rate…
