Does Your Nonprofit Qualify for Retroactive Employee Retention Tax Credits?
Nonprofit organizations can still qualify for the employee retention tax credit from 2020 and 2021 if they meet certain eligibility rules.
GILTI: An Overview
US citizens and tax residents who have formed — or are considering forming — a corporation in a foreign country may be impacted by global intangible low-taxed income (GILTI). The tax implications and considerations are complex. Understanding GILTI is important for making informed decisions for yourself and your business structure.
Nonprofit Advertising and Sponsorship Rules
Nonprofits can run into issues when they accept advertising or sponsorship dollars if they don’t know the rules of unrelated business income tax. Knowing the difference between the two scenarios can help to minimize or manage tax liability.
Understanding the Service Contract Act (SCA) for Government Contractors
As a government contractor, understanding your obligations under the Service Contract Act (SCA) is essential. In this blog post, we will provide you with an overview of the SCA, including its requirements and challenges when implementing the standard. We will also discuss how compliance can be achieved and the risks associated with noncompliance.
2023 Updates to Meals and Entertainment Tax Deductions
The rules for deducting meal and entertainment expenses are different in 2023. Browse an overview of common deductible expenses in this article.
FTC Issues Consumer Alert on Franchising Myths for Potential Investors
The FTC recently issued a consumer alert on the five most troubling myths about investing in a new franchise. Potential franchise investors should consider these myths when evaluating potential investments.
Updated UBTI Expense Allocation Method for Social Clubs and Tax-Exempt Organizations
Final IRS regulations will require most social clubs and tax-exempt organizations to rework their unrelated business taxable income worksheets to avoid using an outdated expense allocation method.
IRS releases rules for tax-exempt entities to monetize IRA credits
Tax-exempt entities may monetize credits under the Inflation Reduction Act under these rules that the IRS released.
Top Ten Issues in Real Estate: 2023
Real estate owners and operators are facing many recurring challenges in 2023, like labor shortages and supply chain disruptions, while they also grapple with new issues like ESG reporting requirements, energy resiliency, and more.
Recovering Your Indirect Costs Depends on Your Budgets
By Neena Shukla, CPA, CFE, CGMA, FCPA, CTP | If you have a responsible estimating system, you would typically anticipate recovering all of your direct costs. However, to ensure recovery of your Company’s indirect costs, requires a good budgeting process and established internal controls.