Blog & Newsroom

As society continues to move away from paper-based documents toward electronic forms of those documents, one of the challenges facing businesses is how to strike the proper balance between the efficient delivery of such documents and the protection of the rights of those who may not choose to receive such documents digitally.  Over the past several years, the number of partnerships and LLCs that offer electronic delivery of K-1s to their partners and members has increased significantly and, in light of this, the IRS has put rules in place to regulate the process of that electronic delivery.  The purpose of this message is to inform you of those procedures, as stipulated by the IRS, and to explain how that affects our ability to facilitate the electronic delivery of K-1s to your partners, if you so choose.

All paid federal tax return preparers must obtain a Preparer Tax Identification Number (PTIN) and renew it annually or penalties may apply. 

We are writing this to alert you to recent changes in federal tax law that will likely affect you significantly.  The changes I am going to explain will affect the way you are required to deduct expenses related to the ownership of tangible property (for example: buildings, land, furniture, equipment, materials & supplies, etc.) .  These changes are a direct result of recently issued regulations (“regs”) from the IRS, addressing the tax treatment of amounts paid to acquire, produce, or improve tangible property. The regs impose complex rulesgoverning when such payments can be deducted and when they must be capitalized and depreciated over time.  The new rules must be adhered to for tax years beginning on orafter January 1, 2014 and may entail significant time and effort to adopt and comply with.

Everyone knows the importance of April 15, but now there is a new date to add to your calendar: January 30, 2013.

It’s easy to feel intimidated when you’re being contacted by the IRS, and con artists are exploiting that, convincing people into paying fabricated tax bills.

In starting a business you have to consider what type of entity you want to create based on a variety of factors including: financing, tax, legal, and start-up costs. 

For those of us who don’t want another username and password to remember, the IRS has provided a solution. 

An employee buyout might provide a sensible alternative to satisfying a small business owner’s plan for selling their business. 

Since hiring family members is common practice, it is important for business owners to understand payroll tax rules that apply to their specific situation. 

Publication 78, Cumulative List of Organizations described in Section 170(c) of the Internal Revenue Code of 1986, is a list of organizations eligible to receive tax-deductible charitable contributions. This online version is offered to help you conduct a more efficient search of these organizations.