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Supreme Court Decision Gives Businesses a Good Reason to Re-Visit Succession Plan

Last year the Supreme Court released an important decision in Connelly v. United States that has the potential to impact many business owners.
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2025 Payroll Update

Social Security & Medicare Tax As of January 1, 2025, the maximum amount of annual earnings subject to Social Security increases to $176,100 (from $168,600 in 2024). There is no limit on the amount of earnings subject to the Medicare tax. The maximum...
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BOI Report Filing Deadline Coming Up — What Business Owners Need to Know

As of December 27, 2024, the enforcement of Business Ownership Information (BOI) report requirements for businesses has once again been halted. At this time, business owners are not required to file. Read more here. As a result of the Corporate...
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Court Temporarily Halts BOI Reporting Requirements

As of December 27, 2024, the enforcement of Business Ownership Information (BOI) report requirements for businesses has once again been halted. At this time, business owners are not required to file. Read more here. A recent court order has...
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Post-Election Tax Analysis: Expiring Tax Laws & Trump’s Tax Proposals

The more things change, the more they stay the same. In 2025, major provisions from the Tax Cuts and Jobs Act of 2017 (TCJA) are set to expire. These provisions are widespread and likely to affect you as a taxpayer. With the Trump administration...
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Virginia Issues Guidelines to Retroactively File 2021 Pass-Through Entity Tax Returns

Virginia’s Department of Taxation has issued long-awaited guidance on pass-through entity tax returns. Here’s what the guidance means for owners of pass-through entities.
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