IRS Increases 401(k) and IRA Contribution Limits The Internal Revenue Service will be increasing the amount that individuals can contribute to their 401(k) plans in 2024 to $23,000, up from $22,500 for 2023, while also pushing up the limit for…
Important Improvements to SBA Financing Rules Makes Access to Capital More Available The SBA is a government-guaranteed lending program founded in 1953 that allows small businesses to obtain capital that is not available to them under conventional lending options. The…
The Tax Implications of Moving Out of State With so many people working remotely these days, thinking about moving to another state has become common. Business owners might contemplate selling their business as part of an out-of-state move. Many retirees…
Are Employees More Productive When Working In The Office Or Remotely? Despite the fact that 50% of knowledge leaders are pushing to have their teams back in the office by the end of the year, and the US Bureau of Labour Statistics reporting a…
New Jersey Launches Tax Incentives For Businesses A recent bill passed in the State of New Jersey has created incentives for companies to reassign employees to a New Jersey location. The bill established a nonrefundable gross income tax credit of…
IRS Establishes Special Unit to Focus on Select Partnerships, LLCs, LLPs, S Corporations and Other Pass-Through Entities The IRS has established a special unit to focus on large or complex pass-through entities, as part of its overall effort to devote more attention…
IRS Stops Processing of New ERC Refund Claims Because of Recent Flood of Suspicious ERC Applications The Employee Retention Credit program was initiated in 2020 in response to the COVID-19 pandemic as a way of encouraging employers to keep employees…
Buy-Sell Agreements As A Required Tool In Business Succession Planning Does your business have multiple owners? If so, you need a buy-sell agreement. This type of binding contract determines how (and at what price) ownership shares of a privately held…
Creating Education Assistance Programs in Your Company to Help Take the Bite Out of Tuition and Other Education Costs Educational assistance programs have traditionally helped employees who were also students pay for items like books, equipment, supplies, fees, tuition and…
Key Tax Considerations When Going Through A Divorce Below are some key tax issues that should not be overlooked when going through a divorce: 1. FILING STATUS AND DEPENDENTS Special consideration should be taken when determining the filing status and…