Many CPA firms are built around compliance. They file returns, track deadlines, and ensure forms are submitted correctly. That works, until a business starts operating across multiple states. When companies expand geographically, state and local tax (SALT) complexity increases dramatically. Nexus rules, apportionment formulas, pass-through entity tax elections, and audit exposure can all create significant…
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Effective January 1, 2026, several federal tax law changes are set to take effect that may impact both businesses and individual taxpayers. Two of the most notable updates involve meal expense deductions and gambling loss limitations. Understanding these changes now can help you plan ahead, avoid surprises, and ensure expenses are categorized correctly. Meal Expense…
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Construction and manufacturing companies face unique tax challenges due to long production cycles, complex project accounting, volatile material costs, and frequent equipment purchases. The good news: these same characteristics create significant opportunities for tax savings when businesses use the right strategies. Whether your company builds, fabricates, or produces, proactive tax planning can improve cash flow,…
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The Internal Revenue Service (IRS) is warning taxpayers about a surge in fraudulent tax schemes circulating online — particularly on social media — that encourage the misuse of credits such as the Fuel Tax Credit and the Sick and Family Leave Credit. Since 2022, thousands of taxpayers have been misled by false claims suggesting that…
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On September 8, 2023, the IRS released pre-regulatory guidance concerning the requirement to capitalize and amortize specified research and experimental (SRE) expenditures under Internal Revenue Code Section 174, as revised by the 2017 Tax Cuts and Jobs Act (TCJA). Notice 2023-63 is the long-awaited substantive counterpart to the procedural guidance initially released last winter (and…
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