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Beneficial Ownership Information Reporting
On September 29, 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCen) issued a final rule implementing the bipartisan Corporate Transparency Act’s beneficial ownership (BOI) reporting provisions. The new rule will require business...
IRC 83(b) Election: Is This the Right Choice for You?
You may be wondering what the IRC 83(b) Election is and what the benefits and disadvantages of this election are. We’ll be explaining what it is, why you may want to make the election, and when to do so. Election and Understanding Let’s start off by explaining what...
Domicile vs. Residency: An Important Distinction
I look around my neighborhood in the summertime and I see an awful lot of cars with Florida license plates. These are folks who have been my neighbors for years, and who are still my neighbors; they’re just “wintering” a little longer than they used to. No need to...
Navigating Physician Practice Mergers: A Three-Phase Roadmap
In the dynamic landscape of healthcare, physician practice mergers have become a strategic imperative for many practitioners. This transformative journey typically unfolds in three key phases: Due Diligence, Contract, and Implementation. Each phase plays a crucial...
IRS Using AI to Enforce Tax Compliance for the Wealthy
The Inflation Reduction Act funding passed by Congress in August of 2022 granted additional funding to the IRS. The Service has announced it will apply a portion of those funds to restore fairness in tax compliance, and it plans to do so by using advances in...
QuickBooks Online Tip: Uncover the Power of the Online Desktop App
Did you know that Quickbooks Online has a desktop application that can be downloaded? You might think that the Quickbooks desktop version and the Quickbooks Online desktop app are one and the same, but you would be mistaken. Most users have a definite preference. If...
Physicians Turn to Gig Work
The onset of COVID-19 exacerbated hospital overcrowding and staff shortages, resulting in more overworked doctors and nurses. Increased burnout and shrinking pay have led many medical professionals to look for a change. According to a recent study in the Journal of...
Understanding QDROs and Protecting Your Retirement Nest Egg with Allison Fried
Allison Fried recently had a conversation with Frank LaRocca on his podcast, "The Divorce Playbook Podcast". Tune in as she talks about why you might need a Qualified Domestic Relations Order (QDRO), Defined Benefit vs. Defined Contribution Plans, the importance of...
Those impacted by Idalia qualify for tax relief; Oct. 16 deadline, other dates postponed to Feb. 15
WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments....