7 Essential Tax Planning Questions Every Small to Medium Business Owner Should Ask Their Tax Provider for Q1 2025
As Q1 2025 approaches, small and medium-sized business owners have a unique opportunity to strengthen their tax strategies for the new year. A strategic tax plan isn’t just about lowering the tax bill — it’s also about aligning tax savings with long-term business goals, reinvesting in growth, and positioning your business for success. To make […]
5 Misconceptions About the Employee Retention Credit (ERC)
The Employee Retention Credit (ERC), originally passed in March of 2020 under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, was designed to help businesses keep their workers employed throughout the pandemic. The credit has undergone several modifications since 2020, with the most recent change passing on Nov. 15, 2021, and many businesses have […]
IRS Warns Taxpayers of Improper Employee Retention Credit Claims and ERC Mills
The Internal Revenue Service recently published IR-2022-183 warning employers to take caution against third parties that are encouraging them to claim the Employee Retention Credit even if they may not qualify. The IRS has given multiple warning signs to look out for. These ERC mills continue to be aggressive in their tactics so the IRS […]
What is the Employee Retention Credit and How to Retroactively Claim it in 2022
What is the Employee Retention Credit? The Employee Retention Credit (ERC) is a refundable tax credit that businesses can claim on qualified wages, including certain health insurance costs, paid to employees. This credit, passed under the CARES Act, encourages businesses to keep employees on their payroll. The refundable tax credit is 70% of up to $10,000 in […]