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Read About - If Improperly Forgiven, the IRS Says PPP Loans are Taxable

If Improperly Forgiven, the IRS Says PPP Loans are Taxable

November 15, 2022

At a Glance Main Takeaway The Paycheck Protection Program (PPP) was established by Congress to provide aid for businesses, self-employed workers, sole proprietors, and nonprofit organizations to keep employees on payroll while these businesses may have been shut down due to the COVID-19 pandemic

Read About - Business Combinations and Accounting for Income Tax Under ASC 740

Business Combinations and Accounting for Income Tax Under ASC 740

October 28, 2022

At a Glance Main Takeaway Business combinations, in which an acquiring entity obtains control of another business (or multiple businesses), can yield revenue, eliminate competition, and allow companies to tap into previously inaccessible consumer markets

Read About - 2022 Tax Data Schedule

2022 Tax Data Schedule

October 25, 2022

Windes Senior Tax Manager Brooke Sigler and Tax Manager Matt Whipple have produced a user-friendly tax data schedule for 2022

Read About - Understanding the Buy, Borrow, Die Tax Planning Strategy

Understanding the Buy, Borrow, Die Tax Planning Strategy

October 20, 2022

At a Glance Main Takeaway Many people interested in building personal and generational wealth follow the buy, borrow, die tax planning strategy to reduce tax liability on their assets

Read About - Common Accounts Payable Processing Challenges

Common Accounts Payable Processing Challenges

October 18, 2022

At a Glance Main Takeaway Every business must handle accounts payable processing tasks efficiently to maintain operations and stable cash flow

Read About - New Estate Tax Portability Election Relief

New Estate Tax Portability Election Relief

September 12, 2022

At a Glance Main Takeaway A new IRS provision passed in July 2022 extends an estate's time to elect the portability of a deceased spouse's unused exclusion amount (DSUE)