The Inflation Reduction Act (IRA) of 2022 contains numerous provisions that create or expand tax incentives for the use of and investment in clean energy technologies. In the past, nonprofit organizations with tax-exempt status have not been…

Across the country and across many industries, there is an ongoing need to innovate. Of course, coming up with the next big thing often requires a great deal of investment, time, research and development. This can add…

You’ve started and established your business, despite everything that was against you. But that doesn’t mean that it’s time to sit back and take it easy! Succession planning for your business can begin the day you start…

The owners of privately held companies are often focused on generating cash flow to drive a higher value for their companies. At the same time, there are non-financial factors that business owners can address to enhance the…

Tax-exempt status for non-profit organizations allows them to devote their resources to pursuing their missions. To maintain that status, however, nonprofits must demonstrate that they are following various tax regulations and accounting rules. Failure to maintain accurate…

A recent U.S. Department of Labor (DOL) rule was issued to help business owners properly classify workers as employees or independent contractors. The new regulation (RIN 1235-AA43)  was also enacted to help protect workers’ rights. The new…

A rule change, effective Jan. 1, 2024, for the 2023 tax year, requires businesses that file 10 or more information returns with the Internal Revenue Service (IRS) to do so electronically. Before the new rule, only businesses…

With changes to the estate tax rules, effective Jan. 1, 2026, many owners of closely held businesses will face serious real value and liquidity issues. With the new rule, the estate tax exemption threshold drops from $12.92…