Protecting Yourself From IRS Related Scams
During tax season, the news is full of stories of scammers filing tax returns and stealing individuals and businesses tax refunds. To protect yourself from these scams, the IRS provides two tools:
Cash Flows, Explained
Cash flow is the amount of money coming in and going out of your business, but there’s more to it than that. More money coming in than going out is a positive cash flow, but that doesn’t mean you’re profitable.
Tips for a Successful Nonprofit Audit
Preparing for your not-for-profit audit might seem daunting. Here are a few tips you can use to help the process go smoothly.
Possible Tax Breaks for Parents and Businesses in the Works
Congressional tax leaders have reached a tentative agreement that would temporarily expand the Child Tax Credit and loosen restrictions on several popular business tax breaks. In total, the plan represents about $80 billion in tax breaks.
Understanding Pennsylvania's Section 179 Deduction
Prior to the release of Personal Income Tax Bulletin 2023-02, PA deductions for Section 179 property were capped at $25,000 annually. The new rules increase the available deduction for PA taxpayers to $1,000,000 annually, still subject to limitations based on the business’s taxable income.