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New IRS guidance on tax treatment of state paid leave programs

New IRS guidance on tax treatment of state paid leave programs

IRS offers clarification of tax treatment and reporting requirements for state paid family and medical leave programs in Rev. Rul. 2025-4.
Employer-sponsored assistance: California wildfires

Employer-sponsored assistance: California wildfires

Qualified disaster declaration permits broader support to affected employees.
What’s New in Tax for 2025? Your Guide to Important Updates

What’s New in Tax for 2025? Your Guide to Important Updates

Anticipate significant changes in 2025 with new tax regulations impacting payroll, retirement contributions, and estate planning. Discover essential updates like increased Social Security wage bases and enhanced catch-up contribution limits under SECURE 2.0, paving the way for optimized financial planning. Dive into this guide to ensure your strategies are aligned with the latest tax requirements and opportunities.
Future Outlook: Navigating Estate and Gift Tax Changes in 2025 and Beyond

Future Outlook: Navigating Estate and Gift Tax Changes in 2025 and Beyond

As the federal estate and gift tax landscape faces potential changes by 2025, understanding these shifts is crucial for protecting your assets. With high exemptions possibly reverting to lower thresholds, strategic estate planning becomes essential for shielding beneficiaries and maximizing benefits. Stay informed and prepared to adapt your plans in a changing tax environment.
Bankruptcy Guide: What Small Business Owners Need to Know

Bankruptcy Guide: What Small Business Owners Need to Know

Small businesses are increasingly turning to bankruptcy amid financial challenges like inflation and cyber threats. While daunting, this process offers a strategic opportunity to stabilize or exit gracefully, thanks to legislative changes favoring smaller enterprises. Discover how understanding and navigating these options can mean the difference between recovery and closure.
Understanding Tax Relief for Wildfire Emergencies

Understanding Tax Relief for Wildfire Emergencies

Wildfires wreak havoc on personal and business finances, but tax relief measures offer a vital lifeline in the recovery process. From extended filing deadlines to penalty abatements, this article explores the critical roles of federal, state, and local authorities in easing the tax burdens of those affected by wildfire disasters. Discover how to navigate these relief options effectively and ensure compliance during challenging times.
Understanding Complete Liquidation for C Corporations

Understanding Complete Liquidation for C Corporations

Navigating the complete liquidation of a C corporation is a complex task, fraught with potential tax pitfalls and strategic decisions. From managing double taxation to understanding asset sales and distributions, this guide offers a roadmap to preserve value during a business exit. Dive in to discover how careful planning and expert insight can smooth the transition from company closure to new beginnings.
Understanding the Risks and Rewards of Alternative Asset Classes

Understanding the Risks and Rewards of Alternative Asset Classes

Younger generations are venturing beyond traditional stocks and bonds, exploring real estate, cryptocurrencies, and private equity for greater returns. This article uncovers the allure and challenges of these alternative asset classes, highlighting the need for thorough research and strategic planning to navigate their unique risks and rewards. Discover how these diverse investments can reshape your financial strategy in an evolving market.
Exploring Tax Rules for Boats and RVs

Exploring Tax Rules for Boats and RVs

Navigating the tax landscape for boats and RVs can be intricate, with opportunities for deductions depending on their use—be it personal enjoyment, business income, or charitable donations. This article explores key tax considerations, such as distinguishing between business and hobby activities, mortgage interest deductions, and charitable contributions. Discover how strategic planning and thorough documentation can help you maximize these benefits while ensuring compliance with IRS guidelines.
Empowering College Students: Budget Creation and Financial Planning Essentials

Empowering College Students: Budget Creation and Financial Planning Essentials

College can be a turning point for financial independence. Learn how budgeting and basic estate planning can empower students to take control of their future, providing clarity and confidence in managing money effectively. Start building habits today that will safeguard your well-being tomorrow.
Maximizing IRA Benefits for First-Time Homebuyers

Maximizing IRA Benefits for First-Time Homebuyers

Thinking of buying your first home using IRA funds? Discover how you can withdraw up to $10,000 penalty-free to support your homeownership dreams. Learn the essential steps and tax implications to make informed decisions that align with your retirement goals.
Partnership tax filing checklist 2024: More data requests, audits and complexity

Partnership tax filing checklist 2024: More data requests, audits and complexity

Comprehensive checklist for partnership tax filing in 2024, addressing new data requests, audits and compliance complexities
AI for the CIO and CTO: How IT leaders can help execute an effective AI strategy

AI for the CIO and CTO: How IT leaders can help execute an effective AI strategy

CIOs and other technology executives can follow common, proven AI strategies to increase insight, reduce risk and achieve greater success.
IRS issues final rules for supervisory approval of penalties

IRS issues final rules for supervisory approval of penalties

The IRS finalized proposed regulations regarding rules for supervisory approval of certain penalties due to recent judicial decisions.
Strategic Growth Through Federation: Pros and Cons

Strategic Growth Through Federation: Pros and Cons

Nonprofits expanding beyond their original footprints might consider a federated structure, which combines a central headquarters with local chapters to enhance resource sharing, advocacy, and governance. However, this model also presents challenges like balancing autonomy and oversight and managing potential liability risks. Discover how nonprofits can determine if federation aligns with their strategic goals and the key considerations for successful implementation.