Tax planning is a critical piece of managing a franchise; however, many franchise owners simply don’t have the time or background knowledge to adequately or strategically tackle the tax implications of owning a franchise. Learn about 5 of the most important and commonly overlooked tax considerations impacting franchisees and provide practical steps you can take to begin optimizing your tax situation.
The SALT deduction's future is uncertain ahead of its scheduled sunset at the end of 2025. Here's how taxpayers can prepare for potential outcomes.
PBMares, LLP, #72 in Inside Public Accounting’s 2024 Top 100 ranking, has combined with Fairfax accounting and tax firm BSB CPAs + Advisors as of October 1, 2024.
In the nonprofit world, governance and leadership are the cornerstones of organizational success. Learn about some common governance and leadership risks that nonprofits must address to ensure long-term sustainability.
Learn about the SECURE 2.0 involuntary cash out limit increase. Effective for distributions after December 31, 2023, SECURE 2.0 allows the plan sponsor to increase the cash-out limit to $7,000 from the previous limit of $5,000.
Financial risks are an unavoidable reality for nonprofit organizations, but with strategic planning and a proactive approach, these risks can be managed effectively. Learn how your organization can address these risks head-on to achieve long-term sustainability and make an even greater impact.
Public charities, private foundations, and donor advised funds can provide qualified disaster relief assistance to victims of qualified disasters, including individuals and small businesses.
The IRS has issued a key memorandum concluding that most NIL collectives do not qualify for tax-exempt status. Learn more about the implications for universities, collectives, and the future of NIL programs.
The IRS took action quickly after Hurricane Helene traveled 400+ miles, claiming lives and wreaking havoc in the Southeast. Learn about the important information regarding deadline extension and penalty relief.
Section 109 of SECURE 2.0 provided for a higher catch-up contribution limit beginning in 2025 for participants in a 401(k) or 403(b) plan for a specific population of employees.
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