BLS Insights

Category: Family Owned Businesses

IRS Warns Businesses about ERTC Scams

August 17, 2023

The airwaves and internet are inundated these days with advertisements claiming that businesses are missing out on the lucrative Employee Retention Tax Credit (ERTC). While some employers do indeed remain … Continued

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Businesses: Act now to make the most out of bonus depreciation

July 25, 2022

The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. The amount of first-year depreciation available … Continued

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New Tax Reporting Requirements for Payment Apps

February 15, 2022

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect … Continued

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State and Local Tax Planning Consideration for Year End – 12.31.2021

December 17, 2021

The House version of the Build Back Better Act, residing in the Senate for consideration, contains a variety of provisions that we discussed in a previous blog, U.S. House Passed … Continued

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