Insights by Author: RSM US LLP

IRS Releases 2024 Retirement Plan Limitations

November 6, 2023

Cost-of-living adjustments to retirement plan limits for 2024 have been issued by the IRS in Notice 2023-75.

Read this Insight...

Revenue Recognition for Franchisors

September 15, 2023

In 2014, the FASB issued new revenue recognition guidance that replaces most pre-existing revenue recognition guidance, including industry-specific guidance, in U.S. GAAP.

Read this Insight...

What does SECURE 2.0 mean for small employers?

March 20, 2023

SECURE 2.0 changes retirement plan rules for small employers with 100 or fewer employees.

Read this Insight...

10 smart moves for real estate investors and operators at year’s end

November 17, 2022

As we close the books on 2022, RSM’s real estate senior analyst Scott Helberg shares 10 important year-end resolutions for real estate investors to consider

Read this Insight...

Fed Raises Its Policy Rate by 75 Basis Points as It Prepares to Slow Pace of Hikes

November 2, 2022

The Federal Reserve increased its policy rate by 75 basis points on Wednesday to a range between 3.75% and 4% as it hinted at slowing the pace of its hikes.

Read this Insight...

What Is an S-Corp Election?

October 27, 2022

Business owners often struggle with determining the optimal legal structure and tax treatment for their business. This video will explain an S-Corp tax election and how it may benefit you and your business.

Read this Insight...

IRS Grants Failure to File Penalty Relief for 2019 and 2020 Returns

August 30, 2022

Executive Summary The IRS released Notice 2022-36 providing relief for certain taxpayers from certain failure to…

Read this Insight...

The Price of War: Risks Around the Inflation Outlook

May 10, 2022

While we expect the annual inflation rate to peak this quarter as comparisons to the lower…

Read this Insight...

Congress Open to Considering a Pause on Automated Tax Notices

January 19, 2022

National Taxpayer Advocate, Erin Collins, recommends the IRS pause automated collection notices. Congress may consider the recommendation.

Read this Insight...

Tax Policy Update: How the Build Back Better Act Affects Individuals

December 14, 2021

RSM’s policy and national tax teams give insight on how the Build Back Better Act will affect family offices and higher income individuals.

Read this Insight...

SAS 136: Preparation before year end

As previously communicated, Statement on Auditing Standards (SAS) 136, Forming an Opinion and Reporting on Financial ...
Read this insight

On Your Mark, Small Businesses: Get Set to Reserve the 2021 Main Street Hiring Credit

The Main Street Hiring Credit has been reenacted for 2021, bringing financial relief to small businesses ...
Read this insight

What To Know About the New Lease Accounting Standard

Every day that passes marks less time for private companies to get ready for ASC 842, ...
Read this insight

Credit for Other Dependents: A CTC Alternative

The IRS is reminding families about the Credit for Other Dependents, a tax credit available to taxpayers for ...
Read this insight

Document Management and Recordkeeping for Nonprofits

If you work for a nonprofit that's funded by grants or donations, you need to keep ...
Read this insight

Estate Planning for High-Net-Worth Individuals

President Biden's proposed infrastructure plan does not explicitly raise estate taxes. Instead, it ends the step-up ...
Read this insight

The Future of Global Minimum Tax and Multinational Corporations

The "race to the bottom" of international tax rates may soon come to an end. The ...
Read this insight

How to Claim the Employee Retention Tax Credit

Congress created an employee retention tax credit to retain employees on their payroll during the pandemic. ...
Read this insight

Child Tax Credit Advances Start July 15

On July 15, 2021, the IRS will start sending monthly child tax credit payments to qualifying ...
Read this insight

Are You Ready To Retire Early?

Maybe your job, even your entire sector, has disappeared in 2020's economic turmoil. Or perhaps you ...
Read this insight

Accounting Tips to Benefit Your E-Commerce Business 

E-commerce marketplaces popped up in the early 1990s and have been on the rise ever since. ...
Read this insight

A New Frontier in Cryptocurrencies: What are NFTs?

Non-fungible tokens — a player in the shadowy cryptocurrency world — have increasingly been making their ...
Read this insight