The IRS has released the annual adjustments for 2025, covering tax brackets, deductions and limitations for the 2025 year. Tax Brackets and Rates for 2025 In 2025, there are seven federal income tax rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37% (plus a 0% rate for...
We recently spoke with the president of a major firm who showed me a viral video he had seen on a social media platform like Instagram or TikTok regarding tax advice. I was initially surprised that someone at this level would be taking advice from a social media...
In early 2024, an intense bipartisan negotiation took place between Democratic Senator Ron Wyden and Republican Senator Jason Smith, resulting in a tax bill that passed the House of Representatives by a significant margin (357-70). This bill included several key...
Equity-based compensation offers significant advantages for both employees and employers. For employees, it presents the opportunity for significant financial rewards, fosters a sense of ownership and alignment with company goals, and enhances overall compensation...
In the digital age, customer reviews play a pivotal role in shaping purchasing decisions and influencing a business’ reputation. These authentic and honest insights serve as the modern equivalent of word-of-mouth recommendations, making them crucial for local...
If your business paid New York State unemployment insurance (SUI) wages during the lookback period from October 1, 2022, to September 30, 2023, you should receive an Interest Assessment Surcharge (IAS) notice around June 21, 2024. Payments are due by July 21, 2024....
In September 2023 the IRS took the unprecedented step of placing a mortarium on Employee Retention Tax Credit (ERC or ERTC) claims, citing what they felt were increasing and alarmingly high levels of claims that were improper to outright fraudulent.
On November 9, 2023 the IRS released the 2024 tax brackets, standard deduction and retirement account limits. As a result of the high inflation seen in 2023, brackets will increase by about 5.4% with similar increases seen in other limits.2024 Standard Deduction The...
As many have heard, on September 14, 2023 the Internal Revenue Service (IRS) has taken the unprecedented step of halting the processing of new claims for the Employee Retention Credit (ERC) through at least December 31, 2023. The halt comes in response to a growing...
