Posts Tagged ‘Business Tax’
Before Offering Cryptocurrency as a Payment Option, There Are Pros and Cons to Consider
At a glance Schedule a free consultation with our team The full story: You don’t have to be an expert in the market to know that cryptocurrency has been increasing in popularity across the globe for the last several years. After the runup in prices that took place in early 2021, more investors, consumers, vendors…
Read MoreFemale Entrepreneurs: Find the Right Grant for Your Small Business
At a glance Need assistance finding and selecting the right funding option for your business? Schedule a consultation today. The full story: The competition for small-business grants is fierce, especially for women-owned businesses. Women across the globe are empowering each other, driving change and reinforcing how female entrepreneurs are fundamental to growing a strong economy. Yet…
Read MoreWhat Upcoming Tax Legislation Might Mean For You, Your Business, and Your Estate Plan
At a glance The main takeaway: House and Senate Democrats are debating and modifying President Joe Biden’s tax proposals with a view toward passing legislation as part of the budget reconciliation process. Each of the competing proposals contain tax increases, including rate changes, new or restored limitations on deductions and the likelihood of increased IRS enforcement.…
Read MoreWhat’s All the Talk About a $10 Million Tax-Free Capital Gain?
Shareholders in qualified small businesses (“QSBs”) may be eligible for a 100% tax exclusion due to an often-overlooked section of the Internal Revenue Code (“IRC”): Section 1202. This benefit can be critical in attracting capital investment or talented employees. Particularly with startups and technology companies, there is a huge potential advantage to founding shareholders, early…
Read MoreQSBS Exemption: How to Reap Big Tax Benefits for Your Small Business
At a glance The main takeaway: The qualified small business stock (QSBS) exemption is a lucrative tax opportunity for eligible small businesses and those who invest in them. What’s in it for you: If you qualify, you can reap up to $10 million in federal tax savings by taking advantage of the QSBS exemption. Next steps: Aprio’s Tax…
Read MoreWill You Be Able to Deduct R&D Expenses in the Future?
At a glance The main takeaway: The tax legislation passed in 2017 removed the immediate expensing of R&D costs beginning January 1, 2022. What this means for you: With the end of 2021 fast approaching, businesses that incur foreign and domestic R&D costs need to understand how this change may affect their tax situation if…
Read MoreFraud Has No Borders
At a glance: The main takeaway: Fraud is a global concern, as evidenced by some of the most famous global fraud cases in modern history. Impact on your business: Continued technological advances and modern fraud techniques mean no business is entirely protected – and the source can come from virtually anywhere. Next steps: As fraud…
Read MoreThe Infrastructure Bill Proposes Big Changes for the Crypto World. Here’s What You Need to Know.
At a glance The main takeaway: The new bipartisan infrastructure bill that’s making its way through Congress is proposing some changes that have the crypto world buzzing. Impact on your business: If passed, as expected, those who deal in cryptocurrency will be required to report all digital asset transactions to the IRS starting in 2024.…
Read MoreAre Payment Facilitators Subject to Sales Tax? 4 Questions to Consider
At a glance: The main takeaway: Sales tax guidance is ever-evolving and differs by state, which means payment facilitators need to understand exactly how rules apply to their unique business activities. Impact on your business: With the help of an experienced CPA, there are four basic questions you should consider to appropriately determine your sales…
Read MoreIRS Addresses Bitcoin Cash Fork, Four Years Later
At a glance: IRS announcement: In line with previous announcements, the IRS reiterated their position that taxpayers who received Bitcoin Cash following the hard fork in 2017 must report the value as taxable income. What it means: Cryptocurrency investors need to be diligent in reporting all virtual currency transactions (including the receipt of newly created…
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