The IRS issued updated guidance as it relates to the new clean vehicle credit. Effective April 18, the new requirements state: “if you take possession of a new clean vehicle on or after April 18, 2023, it must meet critical mineral and battery component requirements to qualify for the tax credit. This applies even if […]
Sometime during the 1940s, the following question was asked “If the average worker sent his entire paycheck to the government starting on January 1st, how many days would that person need to work before they were able to keep any of their own money?” Each year the Tax Foundation computes the answer. In 2023, yesterday, […]
This month we are sharing articles to help businesses and individuals take steps to save money. Steps include reviewing annual expenses, specifically expenses that are recurring or on auto-pay. We also include 5 tips for small businesses to use when reviewing insurance policies. And for those of you wondering why tax day is on April […]
In this issue of Valuation & Litigation Briefing, we include information about a family business and a dispute which resulted in an inappropriate discount for lack of marketability (DLOM); the importance of considering tax issues when executing a divorce or settlement agreement; alternative methods of assessing damages that experts use for companies without an established […]
The month of March has many commemorative dates celebrating women including International Women’s Day, Women in Construction week, and Women’s History Month. As March comes to a close, we would like to share a story about one of our senior tax managers, Suzanne (Suzy) Feldman, CPA, MT. In 2016, Suzy was looking forward to retirement. […]
In this issue of our Contractor newsletter, we have included a variety of topics covering safety and workers’ compensation costs; mitigating risk with a comprehensive subcontractor prequalification process; blockchain in construction and IDIQ (indefinite quantity) contracts. Articles include: As always, if you have questions on any of these articles or other topics, please contact Stephen […]
As of today, there are 35 days until the April 18th Income Tax deadline. We thought it would be a good time to remind everyone of critical dates for partnerships, S-Corps, C-Corps, and individuals for this tax season. Partnerships & S Corporations Date Action March 15, 2023 Taxes due or file an extension September 15, […]
The IRS will have Saturday office hours on March 11th, from 9 am to 4 pm, at specific Taxpayer Assistance Centers throughout the country. Additional Saturday hours will be held on April 8th and May 13th. Enhancing the Taxpayer Experience The purpose of the Saturday hours is for taxpayers to have face-to-face meetings with IRS […]
Final regulations amending rules for filing returns electronically (e-file) were published by the IRS on February 23, 2023. The regulations will affect persons who are required to file: Specifics of New Regulations Changes made by the Taxpayer First Act (TFA) are reflected in the final regulations. The goal is to increase e-filing without undue hardship […]
Welcome to our first issue of Valuation & Litigation Briefing of 2023. In this issue, topics include royalty damages, post acquisition disputes, employment discrimination cases, and crossing the line between permissible and impermissible legal or factual conclusions. Articles include: As always, if you have questions or currently in need of valuation services, please reach out […]
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