Section 25C energy efficient home improvement credit proposed regulations and Rev. Proc, 2024-31 released.
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Surging mental health needs challenge health care, but also provide opportunities
The Department of Health and Human Services and related agencies recognize the need to ease restrictions on access to mental health and wellness services
FASB’s proposed updates on software development accounting
The Financial Accounting Standards Board (FASB) proposes changes to accounting for internal software development costs. Learn about the proposed changes and how they might affect your company’s financial reporting.
Understanding Trump’s proposed tax changes: implications for taxpayers and business owners
Learn about President-elect Trump’s proposed tax changes and how they could affect your financial strategy. This nonpartisan article discusses the potential impacts of extending and expanding the Tax Cuts and Jobs Act of 2017, among other proposed changes. Stay informed about potential tax changes and learn how to prepare for them.
Key IRS Update: new 1099-K thresholds set through 2026
Significant changes to the IRS’s 1099-K reporting thresholds are on the horizon, affecting anyone who uses payment apps or online marketplaces. Starting in 2024, more of your transactions could be reported to the IRS, potentially impacting your tax obligations. Find out what these updates mean for you and how to navigate the new requirements.
Court strikes down Biden administration overtime rule
A rule that sought to increase the salary threshold for overtime exemption has been struck down by U.S. District Judge Sean Jordan. Learn the impact of this decision, how the situation unfolded, and potential future scenarios.
IRS extends the research credit claim transition period to Jan. 10, 2026
The IRS has announced it will extend the research credit claim transition period, which was set to expire in January 2025, an additional year to Jan. 10, 2026. The IRS continues to require detailed information at the time of claiming the research credit.
U.S. consumer confidence improves to highest level in more than a year
Consumer confidence edged up in November to its highest level in more than a year, driven by improved sentiment about both the current economic situation and future expectations.
Streamline Your Billing Process: Tips for Dispute Resolution
Billing disputes can strain relationships with customers and delay payments. This article explores how categorizing customers and setting strict deadlines can lead to quicker resolutions. It also emphasizes the importance of improving collections processes for smoother transactions. Read the full article for practical steps to resolve disputes and maintain healthy cash flow.
What You Need to Know About Borrowing from Your Retirement Plan
Borrowing from a retirement plan, such as a 401(k), can be a convenient way to access funds, but it comes with risks. This article explains the potential tax consequences if the loan is not repaid on time, including penalties and taxable distributions. It also discusses loan limits, how interest is treated for tax purposes, and exceptions that may apply depending on the type of plan. To avoid financial pitfalls, it’s essential to understand the rules and consult a tax adviser before borrowing. Read the full article for detailed guidance.