The end of the calendar year means it’s time to get ready for another tax season. Here are 10 issues that owners, financial officers, and tax executives in closely held businesses should consider as part of their year-end activities. (more…)
Tax reporting can pose a challenge for any business, but the complexities grow when a company has operations in more than one country. A business with international operations or foreign ownership faces a large—and frequently changing—array of reporting requirements designed to provide information about a taxpayer’s foreign activities.
Failure to submit all required reports can lead to sizable fines, even if the business owners were simply unaware of the mandated obligations. Willful violations can also lead to criminal charges. (more…)
With bonus depreciation starting to phase out this year and limits on Section 179 deductions increasing, now is a good time to re-evaluate capital asset depreciation strategies. The 2023 changes could also affect the timing of upcoming purchases to maximize potential tax savings. (more…)
As the tight labor market continues to put upward pressure on wages, many businesses are struggling to attract and retain qualified workers at salaries the company can afford to pay. One often-overlooked tax credit could provide some relief for companies in this situation while also pointing them to a potential source of new employees they might not have considered otherwise. (more…)