by Megan Kosciolek, MST | Oct 31, 2024 | Blog, News, Tax
When you think about tax deductions for vehicle-related expenses, business driving may come to mind. However, businesses aren’t the only taxpayers that can deduct driving expenses on their returns. Individuals may also be able to deduct them in certain circumstances....
by Megan Kosciolek, MST | Oct 16, 2024 | Blog, Business, Tax
The IRS has been increasing its audit efforts, focusing on large businesses and high-income individuals By 2026, it plans to nearly triple its audit rates for large corporations with assets exceeding $250 million. Under these plans, partnerships with assets over $10...
by Megan Kosciolek, MST | Oct 3, 2024 | Blog, Business, Tax
Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding the reporting requirements of federal...
by Megan Kosciolek, MST | Sep 18, 2024 | Business, Tax, Uncategorized
When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes. Here are some critical issues to include in your agreement so your business remains...
by Megan Kosciolek, MST | Sep 4, 2024 | Blog, Business, Tax
Choosing the Right Business Entity: Why an LLC Might Be Your Best Bet Selecting the right business entity is a crucial decision that can impact your tax obligations, personal liability, and more. For many entrepreneurs, a Limited Liability Company (LLC) stands out as...
