Author name: Tomi Stoner

New Mobile Application coming soon!!!! We understand that change can be challenging, and we are dedicated to ensuring a smooth transition. We will be providing additional resources and support in the coming months. Thank you for being a valued client!

In 2021, Congress passed the Corporate Transparency Act (CTA). The law is designed to capture more information about the ownership of specific entities conducting business in, or accessing, the U.S. market. The CTA was developed in response to the use of shell companies and front companies to conceal from the U.S. Government the identities of “illicit actors”

IARA is a Missouri tax law, effective 1-1-24, that provides an income tax credit for taxpayers who hire an intern or apprentice and pay them at or above the minimum wage. Taxpayers are allowed to claim a tax credit against their state tax liability of $1,500 for each intern or apprentice hired at the allowable

While employers may hand out gifts at various times of the year, it’s common that as the holidays approach companies may want to express their appreciation for a job well done.  Types of gifts.  In general, gifts are similar to bonuses), and are generally subject to federal income tax withholding (FITW),  FICA, and FUTA. However, if

You can take a tax credit equal to 30% of qualified expenses. The maximum credit each year for qualified energy efficiency improvements, residential energy property expenses and home energy audits is $1,200. In addition, a $2,000 maximum credit per year can be claimed for qualified heat pumps and biomass stoves or boilers. Improvements must be

Currently businesses are allowed to subtract from their Federal Adjusted Gross Income a percentage of their business income when determining their Missouri Adjusted Gross Income for Missouri individual income tax purposes. The business income subject to this subtraction is income reported as total combined profit on the IRS Schedule C, Partnership and S Corporations income

The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers until December 31, 2025 for hiring and employing individuals from certain targeted groups who have faced significant barriers to employment.   Targeted groups under section 51 of the Code: In general, the WOTC is equal to 40% of up to $6,000 of wages paid

The Internal Revenue Service recently posted a new release which reminded eligible farmers and ranchers forced to sell livestock due to drought may have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales. The IRS posted Notice 2023-67 listing the applicable areas, a

https://www.irs.gov/newsroom/avoiding-identity-theft-scammers-posing-as-the-irs

The Internal Revenue Service today reminded employers and employees that under federal law, employers who have educational assistance programs can use them to help pay student loan obligations for their employees. Traditionally, educational assistance programs have been used to pay for books, equipment, supplies, fees, tuition and other education expenses for the employee. These programs