Walter & Shuffain - Certified Public Accountants & Business Advisors

Are You Up to Date on Travel Deductions as Business Travel Returns?

COVID restrictions have eased, and in-person conferences are back on the calendar. And as more people return to offices, companies are warming to sending their employees on work trips.

For many businesses, it’s been a minute since they’ve had to account for employee travel expenses. So it might be time for a refresher on which expenses are tax-deductible, which aren’t, and what pandemic-related tax incentives are available. 

Massachusetts Millionaires Tax: Planning for High-Income Taxpayers

When Massachusetts voters head to the polls this November, one hot button issue on ballots will be the so-called “Massachusetts Millionaire Tax.” This surtax on high-earning taxpayers in the state faces criticism from business leaders and investors but strong support amongst voters.

This article looks at what this new tax would entail and how it could impact Massachusetts taxpayers.

IRS Offers New Details to Prepare Schedules K-2, K-3

The IRS has provided an additional exception for qualified domestic partnerships and S corporations to file their schedules K-2 and K-3 for tax year 2021 to further ease the transition to these new schedules. The new schedules standardize international tax information to partners and flow-through investors while clarifying obligations and standardizing the reporting format.

3 Ways to Protect Your Business from Fraud and Scams

Business owners spend a lot of time and effort ensuring their operations run smoothly. Yet one scammer going after your company can bring it all down, harming your reputation and your revenue. Here are three steps you can take to boost security at your business and keep scammers at bay.

Build Back Better May Be Stuck, but How Could It Impact Business Owners?

Build Back Better is one of two pieces of legislation that form the centerpiece of President Biden’s domestic agenda. The first piece — the Infrastructure Investment and Jobs Act — was signed into law in November 2021. 

Creating Your Small Business Exit Strategy

Do you know what will happen to your business when you retire? By necessity, many busy small business owners spend all of their time thinking about the here and now, with little opportunity to focus on the future. But your company’s long-term survival -— and your own retirement security -— may depend on establishing a realistic and workable exit strategy.