Maxing Out 401(k) Savings for High Earners
High earners face additional contribution restrictions to employer-sponsored 401(k) plans. Being aware of these restrictions and how to navigate them can help maximize retirement savings.
FinCEN Proposed Rule for Real Estate to Combat Money Laundering, Fraud
FinCEN issued a request for public comment in advance of a new proposed rule subjecting all-cash real estate transactions to new recordkeeping requirements. If passed, real estate would fall under increased regulatory oversight.
How the Government Buys Goods and Services: What Government Contractors Need to Know
The federal government is the largest single customer in the world. Continuing with our Basics of Government Contracting Series, in this blog post we discuss how the federal government buys goods and services and what you need to know as a government contractor.
4 Solutions That Could Help the IRS Better Serve Taxpayers
It’s been more than 100 years since the first Form 1040 was introduced. Fast forward to 2022 and this tax season is on track to be the worst ever. So, why is the agency so far off its game and what are the potential solutions?
S-Corporation Shareholders May Need to File Form 7203 with 2021 Taxes
For the first year, some S-corporation shareholders will be required to include Form 7203 with their individual or trust tax returns. With shareholder basis continuing to be a major IRS audit focus, shareholders need to make sure they are consistently tracking their basis on Form 7203 with all the required annual adjustments.
6 Steps to Improve Nonprofit Budgeting and Forecasting
Nonprofit organizations that rethink conventional assumptions can improve budget planning and performance against strategic objectives.
Filing Your 2021 Tax Return: A Guide
Buckle up. Filing your 2021 taxes might be a bumpy ride. That’s why we’ve compiled information and tips to help you navigate the journey and maintain your sanity through it all this year.
Strategies for Government Contractors to Retain Employees in a Post-Covid Environment
Retaining talent in a post-Covid environment can be challenging, but it is important to keep your employees engaged and productive. Here are five tips on how you can successfully retain your talented people when economic uncertainty looms overhead.
IRS Releases New Guidance on R&D Credit Refund Claim Procedure
The IRS released a memorandum and FAQs to provide procedural guidance regarding R&D credit refund claims on amended tax returns.
Changing Guidance for Federal Contractors Over Vaccine Mandates
An executive order could require federal construction contractors to implement a vaccine mandate on all federal jobs; however, recent court challenges make following the standard tricky, especially from one contract to another.