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Category: Profit Margins

Retirement Plan Contribution Limits

IRS Announces Retirement Plan Contribution Limits for 2023

On October 21, 2022, the Internal Revenue Service (IRS) announced the updated contribution limits to retirement plans in Notice 2022-55. The new limits are valid beginning in tax year 2023. These limits are important, as they cap the tax benefits that can be realized from retirement plan savings contributions each year and are adjusted to […]

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Disaster Relief

Understanding the IRS Disaster Relief Programs for Taxpayers

Throughout the year, the Federal Emergency Management Agency (FEMA) will designate incidents that adversely affect residents in the affected areas as disasters. This FEMA designation puts relief efforts in motion, both short and long-term. While immediate needs like food, water, and shelter are at the top of the list, long-term efforts, like relief options through […]

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I Bonds

I Bonds Can Help You Tackle Inflation, But You Must Know the Rules

With inflation rates reaching historical highs and driving up the cost of doing business, business owners are seeking out creative ways to fight inflation. The Series I Savings Bond is one tool that’s been getting some buzz. Also known as I Bonds, these low-risk savings products depend on higher inflation to produce better returns. The […]

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Merger or Acquisition

Preparing for a Merger or Acquisition? Check Out These 8 Tax Questions and Considerations

A merger or acquisition rarely runs smoothly. Having the right professionals on your team and knowing what questions to ask can help ease any tax challenges. Here are eight questions to help transition from separate entities to consolidated or subsidiary status. Will the acquired company merge with the parent (acquiring) organization, or will it become […]

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R&D Tax Credit

Do You Know How to Navigate the New IRS Requirements for R&D Tax Credit Claims?

While the new research and development tax credit requirements went into effect on January 10, 2022, which require more detailed proof that claims are valid, many businesses seeking the refund may face extra work when applying for the credit on their next tax return. Knowing the credit’s specificity requirements will allow businesses to ensure sufficient […]

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