Videos & Articles
SDA CPA is committed to staying up to date on the latest tax trends, news, and legislature, as well as technology and advice to help your business succeed. Check back often for our latest info!
IRS enters next stage of Employee Retention Credit work; review indicates vast majority show risk of being improper Highest-risk claims being denied, additional processing to begin on low-risk claims; heightened scrutiny and review continues as compliance work tops $2 billion; IRS will consult with Congress on potential legislative action before making decision on future of […]
Tax experts can guide small businesses on the optimal organizational structure, advising whether to operate as a sole proprietorship or consider other formations like a partnership or S corporation for better protection of business interests. Tax professionals typically review financial records, ensuring all income is accurately reported and all eligible deductions and credits are claimed […]
On Sept. 14, 2023, amid concerns about aggressive ERC marketing, the IRS announced a moratorium on processing new claims. A specific resumption date hasn’t been determined but, at this point, the IRS anticipates it will be sometime in the late spring. This pause will help the IRS review the ERC inventory with strong, new measures of […]
We want to bring the Corporate Transparency Act (CTA) to your attention, a significant regulation that could impact your business. It’s crucial to review this as substantial penalties for non-compliance affect corporations and LLC owners (including real estate holding or small LLCs), among others. Effective January 1, 2024, the CTA requires certain companies to report […]
Have you heard about the enormous tax savings you can reap by investing in a Maltese individual retirement arrangement or utilizing Puerto Rican captive insurance for your business? Before you invest your hard-earned money in these or other highly promoted tax schemes, you should check the IRS Dirty Dozen list. For over 20 years, the […]
The United States has a “pay as you go” tax system in which payments for income tax (and, where applicable, Social Security and Medicare taxes) must be made to the IRS throughout the year as income is earned, whether through withholding, by making estimated tax payments, or both. You suffer an estimated tax penalty if […]
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