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The price of gas is down from a year ago. How does this affect the amount your business can deduct for business drivi...
A filing requirement is coming up if your business pays independent contractors or makes other payments.
Businesses that have been hit hard by the COVID-19 may be able to obtain help with PPP loans. Here are the basic rule...
The Employee Retention Tax Credit rewards employers that can afford to keep workers on the payroll during the COVID-1...
This year, many businesses were affected by the pandemic. Here are some things we have learned.
Before Dec. 31, your business should buy any needed business assets and place them in service. That way, you can take...
Do you operate your business as an S-Corp? Be aware that several elections are available to you and your shareholders...
Employees pay Social Security tax on their wages up to the current tax year’s “wage base.” The SSA ...
We asked our tax professionals for a few suggestions on how to get organized and prepare for 2021. Here they are...
The passive activity loss rules can be complex and trip up some taxpayers. Here are the rules.
The more you know about IRS audits, the better you can fare when that letter arrives in the mail.
The tax rules for treating computer software costs can be complex. Here’s a basic explanation.
Your business likely has a website. How do you treat the costs involved in developing your site for tax purposes? Her...
With fall's arrival, it’s time for businesses to start thinking about fourth quarter tax deadlines.
Even if your private foundation has good intentions, it may not be enough. You need a conflict-of-interest policy to ...
The IRS has issued guidance to implement the deferral of the employee share of SS tax, but employers still have quest...
Depreciating assets involves a complex area of tax law; here’s a rundown:
If your business received a PPP Loan, you should be aware of the potential tax implications.
Nonprofits that enforce a "code of ethical conduct" are associated with 50% lower fraud losses. Get started here...
In some cases, partners may be taxed on more partnership income than was distributed to them from their partnerships....
Bartering is popular during times of economic downturns, which many businesses are suffering now due to COVID-19...
A tax form that used to be filed back in the 1980's is coming back for 2020. Here’s what businesses need to kno...
The “Trust Fund Recovery Penalty” is among the more dangerous tax penalties facing business owners and ma...
The extended federal income tax deadline is coming up fast. As you know, the IRS postponed until July 15 the payment ...
Global economic disruption uniquely affects each business.
CARES Act - Funding and Employment Retention Provisions
What are the benefits of using the company car?
This article is as close as it gets in the valuation world to the “Extra, Extra… Read all about it&...
The criteria and precedent used to determine sales tax liability has changed. Will this change affect your business' ...
A brief summary of each state's economic nexus thresholds
The new Qualified Business Income Deduction is one of the more complex proposed changes in the Tax Cuts and Jobs Act,...
Many REITs are eligible to implement a tax strategy known as cost segregation. Unfortunately, misinformation has left...
The deductibility of certain expenses is obvious, while in other cases it’s unclear. And the TCJA affects many ...
Which parts of the recent tax reform have the greatest impact on not-for-profit organizations?
While it remains the case that the lower corporate tax rates for C corporations increase cash flows and therefore pot...
Part 2 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.
A summary of the most widely applicable points of the tax reform passed in December 2017.
Part 3 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.
Part 1 of 3: A summary of the most widely applicable points of the tax reform passed in December 2017.
The Impact of New Tax Law on Valuations
WEC is pleased to announce the promotion of Robert O. Burke from Senior Accountant to Supervisor.
If a tax-exempt organization engages in a business that is unrelated to its primary purpose, the general rule is that...
BEWARE - Taxpayers are receiving telephone calls from people claiming to be from the IRS, but they are not. These con...
One of the main differences between the world of real life transactions and the fair market value world is the way th...
Few, if any, of us enjoy dealing with the IRS. Often polled as America’s most hated federal agency, the agency&...
A Brief Overview of Frequently Asked Questions
Even though an organization is recognized as tax-exempt, it still may be liable for tax on its unrelated business tax...
Many tax-exempt organizations publish magazines or other periodicals that contain editorial material related to the o...
Many tax-exempt organizations allow for-profit entities to use the organization's name or logo to market goods and se...
WEC is pleased to announce the promotion of Robert O. Burke from Tax Staff Accountant to Tax Senior.
Board Members of nonprofit organizations - or those responsible for the financial well-being of one - should become f...
The American Taxpayer Relief Act that became law on Jan. 2, 2013, changed the landscape of when an estate tax return ...
As a nonprofit organization, you hold coveted IRS tax-exempt status, can accept grants and donations, and enjoy the p...
The characterization of expenditures relating to fixed assets (tangible property) has been a challenge since the ince...
As the New Year's ball worked its way down its 141-foot drop in the seconds leading up to midnight on December 31, ma...
After weeks, indeed months of proposals and counter-proposals, seemingly endless negotiations and down-to-the-wire dr...
Every taxpayer wants to reduce his/her tax liability, and if you are involved in qualified research activities, the R...
Dramatic tax increases scheduled to go into effect in 2013 make 2012 tax planning imperative. The following taxes may...
The Supreme Court upheld President Obama's signature health care reform in a 5-4 decision on June 28, 2012. Beg...
The Returning Heroes and Wounded Warriors Work Opportunity Tax Credit is an extension of the Work Credit available fo...
A cost segregation study can help you maximize tax savings and increase cash fl ows onyour future, current...
We all know how important it is to understand how tax laws affect the day to day operations of a construction busines...
Construction companies face an imposingly complex choice when it comes to their accounting methods. Because no two pr...