A possible tax quirk of being a business partner If you’re a partner in a business, you may have encountered a situation that gave you pause. In any given… More on this story
Baking up a storm at RMHC! Some of our team members recently took a break from the accounting grind and baked for a good cause. Holbrook… More on this story
Multistate Tax Issues: Changing State Income Tax Rules Could Surprise Businesses Recently updated guidelines from the Multistate Tax Commission (MTC) are generating considerable uncertainty—and growing concern—for companies that do business online…. More on this story
Family businesses must beware of fraud Family businesses make up a huge percentage of companies in the United States and produce much of the country’s gross… More on this story
Subchapter S Shareholder-Employees: “Reasonable” Compensation Is a Must Subchapter S corporations offer a number of tax advantages, but they can also lead to complications. One longstanding concern is… More on this story
ERC Claims Top Spot on IRS Dirty Dozen List A new issue tops this year’s annual IRS Dirty Dozen list of tax scams. The agency’s 2023 list of common… More on this story
Be aware of the tax implications of closing a business Sadly, many businesses have been forced to shut down recently due to the challenges of the economy, including the supply… More on this story
Can Individual Taxpayers Deduct Vehicle Expenses? It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also may be able to deduct… More on this story
Be Aware: Business Bartering is Taxable During these times of high inflation, many cash-challenged businesses have bartered for goods and services instead of paying dollars for… More on this story
FBAR: Courts Review Foreign Account Reporting Rules Several recent court cases could have important implications for businesses and individuals who maintain accounts in foreign banks, brokerages, or… More on this story
