Expanded Sec. 152 for Dependents
The Tax Cuts and Jobs Act broadened the Child Tax Credit and introduced some big changes…
Read this Insight...The Impact of Tax Reform on Alimony
The Tax Cuts and Jobs Act has turned the tax code upside down on alimony, especially…
Read this Insight...IRS Releases 2018 Pension Plan Contribution Limits
A new year brings new changes. The Internal Revenue Service recently announced updated pension plan contribution…
Read this Insight...A New Twist on an Old Scam
As many are aware, tax scams are on the uptick. What you may not know is…
Read this Insight...Construction Companies Go Green
The construction industry has discovered that greening its energy sources with renewable energy initiatives is good…
Read this Insight...New Deadline and Increased Penalties for Forms 1099 and W-2
The IRS is getting stricter on filing deadlines for information returns and have increased penalties for…
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IRS Announces Various Tax Benefit Increases for 2016
For tax year 2016, the IRS recently announced many annual inflation adjustments. IRS Revenue Procedure 2015-53…
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Consider Outsourcing Your Bookkeeping
Accurate and up-to-date financial records play an important part in your business's success, but the daily ...
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Proposed Tax Increases on the Horizon
President Biden presented the American Families Plan in an April 28, 2021 address to Congress, which ...
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DOL Withdraws Independent Contractor Rule
The Department of Labor recently withdrew the “Independent Contractor Status Under the Fair Labor Standards Act” ...
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IRS Relaxes FSA and DCAP Rules
The IRS is providing some leeway to employee benefit plans offering health flexible spending accounts (FSAs) ...
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How Nonprofits Should Handle Tax Form 990
Form 990, Return of Organization Exempt From Income Tax, is the IRS’ method of evaluation to ...
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Hidden Tax Break: Meal Deductions Get a Boost
The Consolidated Appropriations Act, 2021 contained a provision designed to give a boost to the restaurant ...
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COVID-19 Resource Guide: Everything You Need in One Place
Office Updates While BPW is categorized as an essential business due to the importance of tax ...
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BPW Moves Forward with April 15 Deadline
The IRS and California Franchise Tax Board recently announced that the income tax filing deadline for ...
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New Stimulus Package: What You Need to Know
The third stimulus package valued at $1.9 trillion made its debut last week after President Biden ...
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Erroneous Notices from the IRS and States
Many clients have received CP59 Notices notifying them about missing Forms 1040 for the tax year 2019. In ...
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New Benefit Plan Auditing Standards Effective Date Extended
Another pandemic-powered delay is pushing the effective date back for new standards related to audits of ...
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To Port or Not to Port: Is Filing for Portability Right for You?
The option of portability when planning your estate could make a substantial difference come tax time, ...
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