Past, Current and Future #R&D Tax Legislation
The failure of the Tax Relief for American Workers and Families Act to pass in the Senate adds to the uncertainty surrounding the tax treatment of R&D expenses.
TCJA Changes Sunsetting in 2025
With the potential sunsetting of TCJA provisions in 2025, we want our clients to consider some planning tips.
Tax Extensions: Debunking the Myths and Understanding the Benefits
Let’s debunk the myths surrounding tax extensions and understand the benefits they offer.
Understanding the Kiddie Tax and Strategies for Maximizing Your Child’s Tax Benefits
The kiddie tax applies to unearned income (investment income) exceeding a certain threshold. For 2024, if your child’s investment income surpasses $2,600, it will be taxed at your highest marginal tax rate.
Entities Looking to Expand to the US Need a U.S Identification Number
United States launch process requires obtaining an Employer Identification Number (EIN). This unique identifier is essential for tax and payroll reporting, and U.S. banks typically require one to establish accounts.
Remote Work Tax Considerations for Small Business
Understanding tax implications to avoid potential penalties and ensure compliance with tax laws is necessary for onboarding employees. State tax withholding is required in the state the employee resides. You, as the employer, will also be required to establish and pay state unemployment tax in that state.
Navigating IRA Beneficiary Designations as part of Overall Estate Planning
When you first became eligible to participate in your employer’s retirement plan, you were asked to complete beneficiary information. While this choice may seem straightforward, there are complexities to IRA beneficiary designations and implications to your estate planning.
Why you need to Separate your Business Finances from Personal
One test the IRS looks at in determining if a business has a profit motive or is a hobby, is if it is run like a business. Does the activity have a separate banking account. Separating personal and business finances is a basic financial management practice.
Worker Classification: Employee vs. Independent Contractor
Employment classifications, the distinction between employees and independent contractors, is not governed by the application of rules. The implications of how a worker is classified affects businesses and workers alike. Employer advantage to categorizing workers as independent contractors is the saving of expenses linked with traditional employees. These expenses include payroll taxes, training costs, promotional […]
How Virtual CFO Services Can Transform Your Business: Insights from Rose Group CPAs
A Virtual CFO, or Chief Financial Officer, provides high-level financial guidance and strategic advice to businesses on a remote basis. Unlike traditional CFOs who are full-time employees, Virtual CFOs offer their expertise on a part-time or as-needed basis, making them a flexible and cost-effective option for businesses of all sizes.
