No Changes to Information Returns for 2025 Despite OBBB Changes
Form W-2, Forms 1099, and Form 941 and other payroll return forms won’t change for tax year 2025. Further, federal income tax withholding tables will not be updated for OBBB provisions during tax year 2025. The IRS has instructed employers and payroll providers to continue using current procedures for reporting and withholding.
Document Retention Guidelines for Business Owners
Document retention describes the way a business stores and uses data, and for how long it is maintained. In many cases records are required to be retained for tax or legal reasons, but most businesses will also have operational reasons that make it worthwhile to take the time to define your strategy for what to keep, how, and for how long.
A Primer on Exit Strategies
Starting a business can be wildly exciting. Running a business can be a truly fulfilling experience. But what happens when it’s time to wrap things up? There are a multitude of options out there for winding down your involvement in your business.