News & Insights
Tax Tips When Buying the Assets of a Business
May 23rd, 2024
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Tax
After experiencing a downturn in 2023, merger and acquisition activity in several sectors is rebounding in 2024. If you’re buying a business, you want the best results possible after taxes. […]
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IRS Extends Relief for Inherited IRAs
April 25th, 2024
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Tax
For the third consecutive year, the IRS has published guidance that offers some relief to taxpayers covered by the “10-year rule” for required minimum distributions (RMDs) from inherited IRAs or […]
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IRS Issues Guidance on Tax Treatment of Energy Efficiency Rebates
April 17th, 2024
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Tax
The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adoption of a range of energy efficient improvements. In […]
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Scrupulous Records and Legitimate Business Expenses are the Key to Less Painful IRS Audits
April 15th, 2024
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Audit & Assurance |
Tax
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully record expenses to claim […]
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Coordinating Sec. 179 Tax Deductions with Bonus Depreciation
April 11th, 2024
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Business Tax Services |
Tax
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year Section 179 depreciation deductions […]