(authored by RSM US LLP) The IRS revenue procedures provides the amount for inflation-adjusted items for 2025. Amounts adjusted for inflation include the individual tax brackets, the section 199A qualified business income thresholds, the amount of average annual gross receipts to qualify as a small taxpayer, the limitations for section 179 expensing, estate and gift exemptions, as well as several other provisions. […]
Accounting Brief: Taxable vs Non-Taxable Transactions in a Business Combination
(authored by RSM US LLP) The tax structure of a business combination does not merely impact the income tax line(s) within the financial statements. […]
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Second quarter GDP is revised higher amid stronger consumer spending
(authored by RSM US LLP) With price stability essentially achieved, a well-performing labor market should continue to be a significant tailwind for growth, especially for consumer spending, in the last two quarters of the year. […]
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How nonprofits can navigate digital transformation
(authored by RSM US LLP) Nonprofits that learn how to navigate digital transformation are better positioned to thrive. But the unique constraints on nonprofits necessitate a different approach to digital transformation. […]
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Strong employment enables consumers to maintain spending
(authored by RSM US LLP) Strong employment has sustained consumer spending levels, Commerce Department data for June released on Tuesday shows. Rdriven by robust employment despite consumers’ depleted savings and high interest rates. […]
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Why a strong dollar is in America’s best interests
(authored by RSM US LLP) A strong dollar not only means that there is a healthy demand for American-made goods and services, but, perhaps more important, it is also a show of confidence in the U.S. government and financial institutions. […]
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Retail sales were unchanged in June but still exceed forecasts
(authored by RSM US LLP) While the economy is cooling down, we believe that the concerns over the so-called death of the American consumer have been exaggerated. […]
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Should you convert your business from a C to an S corporation?
Choosing the right business entity has many implications, including the amount of your tax bill. The most common business structures are sole proprietorships, partnerships, limited liability companies, C corporations and S corporations. In some cases, a business may decide to switch from one entity type to another. Although S corporations can provide substantial tax benefits over C corporations in […]
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Estate planning Q&A: Grantor Retained Annuity Trusts explained
(authored by RSM US LLP) Reduce estate taxes? Consider a GRAT: Transfer wealth using minimal lifetime gift and estate tax exemption […]
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Tax effects of cancellation of debt across different entities
(authored by RSM US LLP) Explore the tax implications of debt cancellation across different entities with our introductory guide on CODI. […]
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Death and taxes: Critical opportunities for nonprofits
(authored by RSM US LLP) With the American population aging, postmortem contributions are critical opportunities for nonprofits to receive charitable contributions […]
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New retirement plan distribution options introduced by SECURE 2.0
(authored by RSM US LLP) SECURE 2.0 provides new opportunities for plan participants to take retirement distributions without incurring early withdrawal penalties. […]
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Is your payroll process accurate, secure and compliant?
(authored by RSM US LLP) A payroll process review can support risk mitigation, data accuracy and security, and improve efficiency so it can better support your business. […]
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Could outsourcing payroll be a good choice for your business?
(authored by RSM US LLP) Outsourcing payroll, also known as managed payroll, can decrease risk, increase accuracy, protect sensitive data and improve business continuity. […]
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What to do when you unexpectedly need payroll coverage
(authored by RSM US LLP) Unexpected turnover can threaten payroll continuity. Learn how your organization can leverage temporary payroll emergency response support. […]
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U.S. spending and inflation improve above expectations
(authored by RSM US LLP) Spending rose by 0.8% on the month, compared with the forecast of 0.5%, while the personal consumption expenditures index-an inflation measure closely watched by the Federal Reserve—came in at 0.3% for both the overall and core readings, compared with the 0.4% forecast for overall inflation. […]
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Credits and incentives available to retirement plan sponsors
(authored by RSM US LLP) Employers with less than 100 employees who have recently adopted or are considering a retirement plan have a tax savings opportunity. […]
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Retirement plan audit and contribution considerations
(authored by RSM US LLP) The evolving retirement plan landscape opens opportunities for companies to review employee compensation packages and consider changes to their plans. […]
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Are you ready for USDA’s new organic certification requirements?
(authored by RSM US LLP) To improve traceability and detect and protect organic integrity across the supply chain, the United States Department of Agriculture created the National Organic Program (NOP) Strengthening Organic Enforcement (SOE) rule, which will become effective on March 19, 2024. […]
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Incurred cost submission best practices for government contractors
(authored by RSM US LLP) Federal government contractors need to prepare the incurred cost submission (ICS). Learn best practices for preparing this important document. […]
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Compensation and benefits planning can help you navigate an aging workforce
(authored by RSM US LLP) Considerations for structuring compensation and benefit plans that help companies minimize the costs and risks of retiring workers. […]
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Employees still expect broad array of benefits, but to a lesser degree
(authored by RSM US LLP) Employees expect a broad array of benefits, but decreasing expectations may reflect a labor market shift. […]
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