Reconsidering Pass-Through Entity Tax Elections
Many states have enacted legislation to allow partnerships and S corporations to elect to have their income taxed at the entity level. This change was
FAQ: Capitalization and amortization of R&D costs under new section 174 rules
See how the new required tax treatment of R&D costs under section 174 affects federal, state, and international taxes, as well as software development.
Tax-advantaged health reimbursement arrangement for employees
Health reimbursement arrangements (HRAs) allow employers to pay employees’ medical expenses on a tax-free basis.
Health savings account benefits for employees and employers
Employee interest in health savings accounts (HSAs) has increased so employers should understand the benefits of offering them to employees.
IRS releases spending plan for $80 billion IRA funds
The IRS issued an ambitious strategic operating plan for spending $80 billion in additional funding provided by the Inflation Reduction Act.
FASB votes to simplify accounting for common control leases
(authored by RSM US LLP) For common control leases, the FASB is drafting amendments to simplify determining whether a lease exists, the classification of the lease, and accounting for leasehold improvements.
Required minimum distributions after SECURE 2.0
(authored by RSM US LLP) SECURE 2.0 changes the rules governing how and when certain retirement savers can withdraw money from their retirement accounts and IRAs.
Retirement plan changes for long-term, part-time employees
(authored by RSM US LLP) SECURE 2.0 changes the rules for how long-term, part-time employees are treated for purposes of 401(k) and 403(b) retirement plans.
Accounting Methods for the Construction Industry
The Tax Cuts and Jobs Act (TCJA) changed tax planning for many business owners in the construction industry. TCJA allowed many contractors to utilize methods
Requirements for Form 1099-NEC Filers
The Louisiana Department of Revenue (LDR) issued information for all business that are required to file with the IRS, for the tax year 2022, Forms
Surety Bond Execs Share Insights for Coming Year
The National Association of Surety Bond Producers (NASBP) recently published insights on the year ahead from surety executives. Check out this useful supplement to NASBP’s
U.S. jobs report: Hiring slows as another 75-basis-point rate increase looms
(authored by RSM US LLP) The U.S. economy is proving far more resilient in the face of sustained pricing pressures than otherwise thought a short time ago.