Technology and Risk

Categories

Manufacturing Cyberattacks

Manufacturing cyberattacks are becoming more common and the attacks are designed to disrupt operations and extort money. Here are some ideas to get ahead of the cybercriminals.
More Info »

Deducting Website Costs

These days, most businesses have websites. But surprisingly, the IRS hasn’t issued formal guidance on deducting website costs. Fortunately, established rules that generally apply to the deductibility of business costs provide business taxpayers launching a website with some guidance as to the proper treatment of the costs.
More Info »

Tax Obligations Going Out of Business

Many businesses shut down due to the pandemic and the economy. However, tax obligations when going out of business need to be met. First, a business must file a final income tax return and other related forms for the year it closes its doors.
More Info »

Telecommuting Nexus Relief

To help businesses and taxpayers impacted by the pandemic, due to the COVID-19 pandemic, the Minnesota Department of Revenue provided telecommuting nexus relief from business income tax and sales and use tax specifically related to telecommuting.
More Info »

2022 Third Quarter Tax Deadlines

Here are some of the key 2022 third quarter tax deadlines affecting businesses and other employers. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you.
More Info »

Dividends-Received Deduction

There’s a valuable tax deduction available to a C corporation when it receives dividends. The “dividends-received deduction” is designed to reduce or eliminate an extra level of tax on dividends received by a corporation. As a result, a corporation will typically be taxed at a lower rate on dividends than
More Info »

Contractor or Employee?

Manufacturing companies must pay close attention to federal and state rules when determining whether someone is a contractor or employee. Unfortunately, some manufacturing company owners mistakenly believe that the misclassification of employees as independent contractors doesn’t really matter as long as contractors satisfy all their tax obligations.
More Info »

Research Tax Credit

If your small business or start-up is planning to claim the research tax credit, there’s an option to get immediate use of the research tax credit. Subject to limits, you can elect to apply all or some of any research tax credits against payroll taxes instead of your income tax.
More Info »

Estimated Tax Payment

The next quarterly estimated tax payment deadline is June 15 for individuals and businesses so it’s a good time to review the rules for computing corporate federal estimated tax payments. You want your business to pay the minimum estimated tax payment without triggering the penalty for underpayment of estimated tax.
More Info »

Major R&D Expense Changes Coming

New Federal tax law changes are set to take place that could significantly increase the tax liabilities for companies that take part in research and development (R&D) activities.
More Info »

HSA Amounts for 2023

The IRS recently announced the HSA amounts for 2023, which have been adjusted for inflation. High inflation rates will result in next year’s amounts being increased more than they have been in recent years.
More Info »

Adding a New Partner?

Adding a new partner in a partnership has several financial and legal implications. For example, let’s say you and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to it. Let’s further assume that
More Info »

C-Corporation to S-Corporation

Should you switch from a C-Corporation to S-Corporation?  If you are thinking about switching entity types, there are a number of important issues you need to look at before finalizing your decision of which is best in your particular circumstances.
More Info »

Protecting Your Company From Ransomware

VIDEO: Ransomware is a significant threat for business owners of any size, and the damages can be catastrophic. This video will explain what ransomware is and provide seven tips on protecting you and your company.
More Info »

Business Meal Deduction

Believe it or not, the federal government is helping to pick up the tab for certain business meals. To help struggling restaurants during the pandemic, the Consolidated Appropriations Act temporarily doubled the business meal deduction for 2021 and 2022. Under a provision that’s part of one of the COVID-19 relief
More Info »
We Value Your Privacy

This site may use cookies to store information on your computer. Some are essential to make our site work and others to improve the user experience. By using this site, you consent to the placement of these cookies and accept our privacy policy.