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On February 6, 2023, the Internal Revenue Service (IRS) issued Notice 2023-13, which contains a proposed revenue procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program, a voluntary
Schedule K-2 is an extension of Schedule K and is used to report items of international tax relevance from the operation of a partnership or S corporation. Schedule K-3 is
According to the Small Business Administration Office of Advocacy, there were 33.2 million small businesses in the United States as of 2022. These businesses employ 61.7 million people and represent
Most of us have visited coffee shops, ice cream parlors or other small businesses that have jars out on the counter to collect tips for the team members’ college funds,
Prior to the Tax Cuts and Jobs Act (TCJA) in 2017, generally there was no limit to the amount of state and local taxes (SALT) that an individual taxpayer could
The cryptocurrency market is in shambles. Bankruptcies and scandal, coupled with high levels of inflation and a bear market, decimated the digital currency landscape in 2022. The massive collapse of
This post provides a brief overview of the new mileage rates announced by the IRS as well as changes to the clean vehicle tax credit made by the recently enacted
The SECURE 2.0 Act of 2022 (SECURE Act 2.0) was enacted on December 29, 2022, as part of the Consolidated Appropriations Act, 2023. As previewed in a prior post, this
With the end of 2022 coming closer and closer every day, you can help reduce your taxable income during the last month of the year with tax planning strategies. This
With the end of 2022 coming closer and closer every day, you can help reduce your taxable income during the last month of the year with tax planning strategies. We
With the end of 2022 coming closer and closer every day, you can help reduce your taxable income during the last month of the year with tax planning strategies. We
Businesses that meet the requirement for the federal Research & Development (R&D) tax credit and perform R&D activities within the State of Pennsylvania may also be eligible for a State’s
