wscpa, Author at Walter Shuffain

A couple consulting with a woman, looking at paperwork and smiling.

Massachusetts Millionaires Tax: Planning for High-Income Taxpayers

Written by: Jonathan Yorks, CPA 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…

A white stone wall with an "Internal Revenue Service" plaque.

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…

A computer screen showing a large backlit shield with a keyhole.

3 Ways to Protect Your Business from Fraud and Scams

Business owners spend a lot of time and effort ensuring their operations run smoothly, from delivering quality goods and services to providing accurate financial statements and tax returns. Yet one scammer going after your company can bring it all down,…

A close up of a Caucasian man writing something in a notebook

Don’t forget about the Work Opportunity Tax Credit

Note: Congress is considering proposals that could expand the Work Opportunity Tax Credit for certain qualified groups. We will monitor this development and communicate updates as necessary. As a business, tax planning can help create increased cash flow that allows…

A close-up view of bookshelves holding hundreds of periodicals.

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. Build Back Better (BBB) focuses…

A view from the road of cars and taxis with city buildings and a blue sky in the background.

2022 mileage rates for business reimbursements

The IRS recently released the 2022 mileage rates for businesses to use as guidance when reimbursing workers for applicable miles driven within the year. The rates tend to increase every year to account for rising fuel and vehicle and maintenance…

A pile of $100 bill bundles on a white table with a graduation cap sitting on top of the money.

Employer tax benefits of student loan repayment programs

The sheer amount of student loan debt individuals are graduating from higher education with has been increasingly covered in the news. While the government has been working to forgive student loan debt for certain people, there is something employers can…

A Caucasian woman reading a book to a young boy and girl.

Do You Have a Nanny or Household Employee? Make Sure You’re Up-to-Date on Tax Requirements

The COVID-19 pandemic caused many families to rethink their child care situation. Nannies became a popular choice for many, as they decreased the risk of sending children to child care centers and provided the benefit of helping those same children…

A very busy freeway intersection with traffic going in all directions and four different elevations of freeway levels.

Congress Has Approved the Infrastructure Bill: What’s In It For You?

The long-awaited $1 trillion Infrastructure Investment and Jobs Act (IIJA) received the U.S. House of Representatives’ approval Friday, November 5, 2021, to provide funding for improvements to highways, bridges, and other road safety measures. The bill also offers plans to…

Two phones facing each other with a hand appearing out of one phone to "sign" something on the other phone.

IRS Temporarily Expands List of Tax Forms Eligible for E-signatures

In light of the COVID-19 pandemic, the IRS expanded its electronic signatures program to include many more forms that historically needed a wet signature. The expansion is intended to make things easier for tax professionals and their clients, while in-person…

Author: wscpa (page 13)