One of the top questions we get from lawyers is if they should elect to file a composite tax return. For a law firm that practices in more than one state, partners will have income tax liabilities and filing requirements wherever the firm establishes a nexus.
President Joe Biden wants to boost IRS funding by $80 billion over the next decade to fight tax evasion from wealthy Americans and corporations.
Continue reading →Audits become more inconvenient than terrifying if you learn how they work. Let’s start with explaining an audit.
Continue reading →Audits become more inconvenient than terrifying if you learn how they work. Let’s start with explaining an audit.
Continue reading →A tax audit could be nerve-wracking for small business owners, adding anxiety to the already exhausting list of entrepreneurial challenges.
Continue reading →If you have a home in the Hamptons, you may want to read on. If you are a NYC resident, you definitely should read on.
Continue reading →Many of our clients have approached us with the task of writing “comfort letters” for them. This type of verification is typically requested by lenders and loan brokers, and can include verification of a taxpayer’s self-employed income, profitability of the business, and impact on the business if money is withdrawn to put toward a real estate down payment.
Continue reading →If your company has been shut down by government order or experiencing a large drop in year-over-year gross receipts, you may qualify for a Employee Retention Credit.
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