The Trump administration's policies could significantly impact U.S. manufacturers, particularly in the areas of tariffs and trade policies, the Tax Cuts and Jobs Act (TCJA), and clean energy tax incentives1.
Read MoreThe evaluation of an S Corporation for a new business venture highlights several advantages. Shareholders benefit from limited liability for corporate debts, and early losses can be deducted on personal tax returns.
Read MoreRecent developments from the U.S. Supreme Court have significant implications for nonprofit organizations that rely on federal funding.
Read MoreFiling a gift tax return, even when no tax is due, can be beneficial as it starts the clock on the statute of limitations, limiting the IRS to three years to challenge the gift's valuation. Adequate disclosure in the return can prevent future disputes and provide peace of mind.
Read MoreNonprofit organizations can reduce expenses without cutting staff by investing in technology, leveraging partnerships and shared services, and optimizing business operations and vendor contracts. Additionally, focusing on employee development, utilizing volunteers, and implementing eco-friendly practices can lead to significant cost savings while maintaining the organization's mission and morale.
Read MoreThe Tax Cuts and Jobs Act introduced Section 163(j), limiting business interest expense deductions. Businesses can manage this limit by opting out for certain industries, capitalizing interest expenses, or reducing overall interest expenses.
Read More