The Tax Cuts and Jobs Act brought substantial changes to the tax treatment of research and experimentation (R&E) costs, negatively impacting small businesses. This article outlines the shift from immediate deductions to amortization of R&E expenses, highlighting the financial strain on companies in high-tech and life sciences sectors. It also discusses recent IRS guidance and potential legislative relief that could affect R&E activities. Stay informed to navigate these changes effectively and consult your tax advisor to minimize impacts on your business.

In this article, we delve into the evolving landscape of tipping and its tax implications for payroll departments amidst the current election season. With proposals for tax exemptions on tips by presidential nominees, it’s crucial for businesses to understand their responsibilities regarding tip income, service charges, and potential legislative changes. Learn about the current rules, the impact of tipping trends, and how your payroll department can prepare for possible shifts in tax legislation. Read the full article for detailed insights.

As check fraud continues to rise, both individuals and businesses must be proactive in protecting themselves against this low-tech but effective crime. This article delves into current trends in check fraud, including methods of theft and fraud schemes, and shares seven essential strategies for safeguarding financial security. From using security ink to utilizing banks' fraud prevention tools, these actionable tips can help prevent check-related losses. Read the full article for more in-depth guidance on combating check fraud.

While marketability discounts are commonly applied to minority interests, there’s ongoing debate about their relevance for controlling stakes in private businesses. This article reviews the current perspectives on applying these discounts to controlling interests, including recent court rulings and factors impacting discount rates. For those valuing or holding ownership stakes, this analysis offers insights on how these discounts could impact final valuations. Read the full article to learn more about this nuanced valuation topic.

With $7.8 trillion invested in 401(k) plans nationwide, the traditional 401(k) has long been a staple in retirement planning. But Roth 401(k) plans, with tax-free withdrawal benefits, are increasingly popular with employees seeking tax-advantaged options. This article dives into the differences between traditional and Roth 401(k)s, recent tax law updates, and why employers are adopting Roth 401(k) options. Discover if a Roth 401(k) could enhance your company’s retirement offerings.

Navigating tax obligations across multiple states can lead to double taxation if not carefully managed. This article explores essential considerations for those maintaining homes in more than one state, including the distinctions between domicile and residence and strategies for reducing multistate tax exposure. Avoid potential tax pitfalls by understanding state-specific laws and ensuring proper domicile status. Read on for tips on managing multistate residency and minimizing unnecessary tax burdens.

Navigating financial aid for college can be complicated, particularly regarding taxes. This article clarifies the differences between tax-free gift aid, such as scholarships and grants, and taxable compensation from work-study programs. It highlights how to determine domicile, the impact of exceeding qualified expenses, and offers strategies to minimize tax liabilities. Understanding these key aspects can empower families to make informed decisions about managing college expenses. Read the full article for more insights.