Dear Client, There is a potential audit risk that S-Corporations face regarding the compensation of their owners. As you may know, S-Corporations are pass-through entities that do not pay corporate income tax, but rather pass their profits and losses to their...

Dear Client: This alert is to inform you about a new federal law that affects most small businesses in the US. The law is called the Corporate Transparency Act (CTA) and it requires certain companies to report information about their beneficial owners to the U.S....

Under the broker information reporting rules, brokers must report transactions in securities to both the IRS and the investor. These transactions must be reported on Form 1099-B. Legislation enacted in 2021 extends these broker information reporting rules to...

Like a lot of tax rules, the rules regarding business travel expense deductions can be confusing. This article discusses some things clients should know about deducting these expenses. When are business travel expenses deductible? Business travel expenses can be...

The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic. Below are brief summaries of the key aspects of...