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Congress has passed the Inflation Reduction Act (IRA), an extensive piece of legislation that President Biden has signed into law. The IRA contains tax breaks, tax increases for some large, profitable corporations and provisions related to the federal deficit, climate change, drug prices for those enrolled in Medicare — and much more. Here are some of the highlights.

Use this checklist to manage the negative effects of inflation while identifying positive, long-term opportunities for your business.

More EVs Eligible for a Tax Break but Automakers Would Like to Expand It The IRS has added more electric vehicles (EVs) to its list of those eligible for a federal tax credit. The tax code provides a credit (of […]

Residential property values are currently high in many parts of the country. Should you cash out on a vacation home that's increased significantly in value? Before calling your realtor, consult with your tax advisor to understand how much tax you'll owe on the transaction. Here's an overview of the tax treatment of gains from vacation home sales. The outcome can vary depending on your situation.

In response to record-setting gas prices, the IRS has agreed to increase the standard mileage rate for qualified business drivers for the second half of 2022. It's accompanied by a hike in the standard mileage rate for medical expenses for all taxpayers and moving expenses for active-duty military personnel. Here are the rates that will be in effect from July 1, 2022, to December 31, 2022.

The year is almost half over. Is your business on track to meet its goals for 2022? Interim financial reporting can help gauge your progress.

One way manufacturers can widen their hiring pools while potentially qualifying for a valuable tax break is to complete the eligibility requirements for the Work Opportunity Tax Credit.

Exploring financial statement footnotes can be a rewarding endeavor.

In M&As, sellers want to maximize the sales price. The key is finding a buyer who appreciates the company’s synergistic value.

Is your company being transparent about contingent liabilities? In today’s uncertain conditions, reporting contingencies can be challenging. Here’s a refresher on the accounting rules for disclosing and estimating expected losses.

Workers aren’t considered independent contractors simply because a manufacturing company says they are. Given the significant cost of misclassifying workers, it’s critical for manufacturers to make the right determination.

Can you name three ways to value a business?