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Reporting UTPs on your financial statements

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Should your company report tax positions taken (or to be taken) on tax returns before they’re resolved with the tax authorities? Check out this overview of the rules for uncertain tax positions (UTPs) under GAAP.

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179D Tax deduction

179D Tax Deduction: What contractors should know

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Are you a contractor, architect, engineer, or designer who has worked on tax-exempt buildings? If so, you could qualify for the 179D Commercial Building Energy Tax Deduction.

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energy-efficient home improvements

Pocket a tax break for making energy-efficient home improvements

Have you heard there’s an enhanced tax credit for making energy-efficient home improvements, beginning this year? Check out these rules.

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educational assistance programs

Educational assistance programs can be used to help pay student loans

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The IRS has issued a reminder that employers can use educational assistance programs to help employees pay off their student loans and will hold a webinar to discuss the details.

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student loan interest

Can you deduct student loan interest on your tax return?

The student loan payment pause ended on August 31st. Be aware that interest is deductible for some borrowers subject to certain limits. Check out these rules around deduction.

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That email or text from the IRS: It’s a scam!

The IRS will never contact you by email, text or social media channels about a tax bill or refund. Most IRS contacts are first made through regular mail. Be on guard for any suspicious messages as IRS scams are on the rise.

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Hiring family members can offer tax advantages (but be careful)

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Business owners: If you’re thinking about hiring your child or spouse this summer (or already have), you could be in line for some tax savings. But you’ll need to be aware of the IRS rules and follow them carefully – we can help.

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Are you married and not earning compensation? You may be able to put money in an IRA

If you’re married and don’t earn compensation, you may think you can’t contribute to a retirement plan. But you may be eligible for a spousal IRA. Here are the rules for 2023.

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strategic tax planning

Strategic tax planning Q&As for construction businesses

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Maximize your tax savings by engaging in year-round strategic tax planning for your construction business. Here are six important questions to consider.

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New disclosure requirements? Shedding light on a little-known law

Most business owners are unaware that they are now required to report their beneficial ownership under the Corporate Transparency Act (CTA). It’s important to know in advance what is required to avoid late filing penalties.

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