Strategies for Minimizing the Impact of the SALT Cap
In response to complaints about the Tax Cuts and Jobs Act of 2017 SALT cap, many states have authorized workarounds that allow a pass-through entity to pay state income taxes …
Setting up a Succession Plan for Your Business
Once you’ve become comfortable with the idea that you want your business to continue after you’re no longer around, you must plan for succession in order for it to become …
Supreme Court Rules HCEs May Be Eligible for Overtime
You may think that the terms “highly compensated worker” and “overtime pay” don’t belong in the same sentence, but the Supreme Court disagrees. HCEs can receive overtime if they are …
How To Create a Business Succession Plan
There is an unbelievable number of companies across a wide array of industries, which may lead you to believe that the creation of a succession plan must be a unique …
Denver Bronco’s Payoff Isn’t Deductible
Ordinarily, deductible business expenses include payments to settle disputes. But the IRS is clear that it will allow the deduction only if the argument arose from a business-related activity. When it comes to …
IRS Publishes 2022-2023 Special Per Diem Rates
According to Notice 2022-44 from the IRS, various regulations outline the rules for using a per diem rate to substantiate the amount of ordinary and necessary business expenses paid or incurred …