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Many small businesses start out as “lean enterprises,” with costs kept to a minimum to lower risks and maximize cash flow. But there comes a point in the evolution of many companies — particularly in a tight job market — when investing money in employee benefits becomes advisable, if not downright mandatory. Is now the…

The IRS has delayed implementation of the new $600 1099-K requirements. Originally set to take place this tax season, the IRS will now push it back to next year. This will impact all 2023 activity, so you should be aware as we start the year how this could impact you. The new $600 threshold for…

In an effort to reduce the burden of obtaining a full single audit or a program-specific audit by the recipients of Coronavirus State and Local Fiscal Recovery Funds (CSLFRF), the U.S. Department of Treasury has provided a less demanding alternative to the single audit of federal awards. Instead of requiring a single audit or a…

If you have a child or grandchild in college — congratulations! To help pay for the expenses, many parents and grandparents saved for years in tax-favored accounts, such as 529 plans. But there are also a number of tax breaks that you may be able to claim once your child begins attending college or post-secondary…