BUSINESS MANAGEMENT | 05/14/2024 Strategic planning and risk management are essential to securing the future of any business. With many privately held businesses expected to undergo ownership transitions in the coming years, proactive planning becomes even more critical to safeguard business value, personal assets, and family interests against uncertainty. Preparing Your Business for Succession Taking …
CORPORATION TAX | 02/28/2024 Key insights Businesses must carefully evaluate loans between related companies so interest rates charged comply with the federal income tax rules. The IRS recently issued Advice Memorandum AM-2023-008, shedding light on treating intercompany interest rates in the context of group membership. Overcharging affiliates could lead to IRS scrutiny and potential adjustments. Let’s …
NONPROFITS | 02/02/2024 Nonprofit organizations often rely on donations to support their mission-driven work, but unfortunately, these valuable revenue streams can attract fraudsters looking to exploit these resources. Scammers frequently target nonprofits with fraudulent donation refund requests and attempts to harvest personal information, which can lead to significant financial losses and damage to the organization’s …
REGULATION | 01/01/2024 Earlier this week, the U.S. Department of Labor (DOL) finalized its ruling on determining employee versus independent contractor status under the Fair Labor Standards Act (FLSA). This decision follows the proposed regulations released in October, with the final ruling largely aligning with the earlier draft. The updated regulations mark a return to …
INTERNATIONAL TAX | 12/30/2023 Key Insights In today’s interconnected business landscape, global mobility is on the rise, with more employees taking on international assignments. However, these assignments bring with them complex tax implications and payroll reporting requirements that can present significant challenges for both assignees and employers. A thorough understanding of mobility tax is essential …