In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Stocks vs. assets…
Tax Brief: Updated business tax deductions based on inflation
The Tax Cuts and Jobs Act liberalized the rules for depreciating business assets. However, the amounts change every year due to inflation adjustments. And due to high inflation, the adjustments for 2023 were big. Here are the numbers that small…
Tax Brief: Start Up Business: How to Treat Expenses on your Tax Return
Government officials saw a large increase in the number of new businesses launched during the COVID-19 pandemic. And the U.S. Census Bureau reports that business applications are still increasing slightly (up 0.4% from April 2023 to May 2023). The Bureau…
Tax Brief: 529 Plan to Roth IRA under the Secure 2.0 Act
Rollover from 529 Plan to Roth IRA Under SECURE 2.0 A significant change is on the horizon with the introduction of SECURE 2.0. This forthcoming provision will allow individuals to execute a rollover from a 529 educational savings plan into…