The Inflation Reduction Act (IRA), signed into law by President Biden in August 2022, is designed to help fight inflation, increase investment in domestic manufacturing and energy production, lower prescription drug prices, and sharply reduce carbon emissions by 2030. It also included new and expanded tax incentives designed to reward
Deadline Extended to August 7, 2020 The Wholesale / Distribution Compensation, Benefits, and Benchmarking Study is officially open for participation, with new benefits and incentives for participants. This comprehensive study is conducted every other year and provides invaluable benchmarking metrics to regional companies that operate in the Wholesale/Distribution industry, helping
Avoiding Hefty Tax Penalties on Foreign Returns Tax time is especially complex when you operate or earn revenue in more than one country. And getting it right is critical, because mistakes could be quite costly. Fail to turn in a complete and accurate foreign information return on time and you’ll
If you received a Form 1099-G for unemployment benefits in 2020, you should immediately verify that the amount reported matches the amount of benefits you received. There may be a variance, or you may have received a Form 1099-G showing unemployment benefits though you never filed an unemployment claim. Scammers
Mental Health Awareness Month is designed to fight stigma, provide support, educate the public, and advocate for policies that support people with mental illness – and their families. With so many non-profits focused on supporting and providing services to those living with mental illness, we wanted to know what their
The new lease accounting standard is a hot topic but not an entirely unfamiliar one. By now, you probably know that the new lease standard (ASC 842) is effective in 2022 for calendar year-end private companies. Under the new standard, companies are now required to recognize operating leases on the
Has the turmoil over the last year caused you to start thinking of selling your business? Or, perhaps, the pandemic has opened up opportunities to expand your business? One of the most compelling decisions you will need to consider in structuring a buy/sale agreement is whether to structure the deal
Along with many other personal and professional disruptions this year, COVID-19 is impacting the regulatory environment for organizations with funding covered by the Office of Management and Budget’s (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly called “Uniform Guidance”), and potentially subject to a single
If you were to only consider daily stock market performance, you would likely think that the economy is quite volatile. By contrast, when the stock market is evaluated from a broad perspective, it more clearly shows steady growth over time. There is no one size fits all approach to completely
Current volatility in the market can often allow emotions to interfere with investment decisions. This is the importance in establishing an investment strategy for the long term so that in difficult times it is easier to stay the course. However, these turbulent times also can reveal potential opportunities in the
Life insurance policies are a great way to pass on a large sum of money to a beneficiary when you pass away. What many people don’t know is that you can name a non-profit organization as the beneficiary. This makes it possible to give a much bigger donation than you
The IRS entered the 2022 tax season with significant operational challenges including an enormous backlog of unprocessed returns and chronic issues with customer service quality. While it’s typical for the agency to begin tax season with up to about one million unprocessed returns, this year the number increased to 11.7