When choosing a business entity type for their companies, general contractors must think about the legal, financial and tax implications. How can you help your clients become better informed about which business entity type might benefit them the most? Below, I’ll share six key considerations as they explore the available
Mark BaerHeadshotsColumbus Mark Baer officially assumed the role of CEO at Crowe April , succeeding Jim Powers, who completed two terms in accordance with the firm’s partnership agreement. As part of the transition, Baer appointed Brenda Torres, who previously served as the firm lead for audit quality and operations in
The corporate tax-cut party President Donald Trump kicked off will soon be over if his successor proves able to enact proposals to roll back half of the 2017 domestic income-tax reduction and to radically revamp levies on profits earned abroad. President Joe Biden’s $2.25 trillion infrastructure-centered plan, laid out by
President Joe Biden is calling for sweeping investment in electric vehicles, renewable power and the electric grid as part of a broad blueprint to bolster the U.S. economy while combating climate change. The president’s plans, part of a $2.25 trillion infrastructure and stimulus blueprint he is set to unveil in
With the passage of so much tax legislation over the past several years, including the tangible property regulations, the Tax Cuts and Jobs Act, the CARES Act, several COVID-19 stimulus bills, and various new federal, state and local regulations, there is tremendous opportunity to implement tax-planning and tax-saving strategies for
Today, I am taking a digression from practice management or tax season topics to write about my nonbusiness blogs. These are something I hope you’ll take a short break to read for a little relaxation. Besides this weekly column that I have been writing for over seven years, I post
The Internal Revenue Service’s Criminal Investigation division is partnering with tax authorities abroad to ferret out signs of tax fraud, targeting financial technology companies and cryptocurrency. IRS-CI has been coordinating with four other countries’ tax authorities in a group known as the J5. They include the Australian Taxation Office, the
Face masks and other personal protective equipment to prevent the spread of COVID-19 are now federally deductible. The new IRS Announcement 2021-7 (1) clarifies that the purchase of such personal protective equipment as masks, hand sanitizer and sanitizing wipes for the primary purpose of preventing the spread of COVID-19 are
Vertex, which provides tax technology, has debuted a cloud-based accounts payable invoice validation tool for companies operating or doing business in Brazil. Systax DFE (which stands for electronic fiscal documents, required under Brazilian regulations) is designed to manage the receipt, validation and compliance for e-invoices by obtaining documents from tax
A lot of different tasks make up the work of running a tax preparation practice. It’s only natural that a preparer might find some of those tasks more enjoyable than others. “My support staff is amazing, and, for the most part, do the jobs I don’t want to do,” said