Blog

Here are some questions we get from our clients or their CPA’s: For which tax years can the WOTC credit be applied? Employers may claim the Work Opportunity Tax Credit for a total of two years. Employers who do not take the full credit amount because of the tax liability

You may know claiming tax deductions and tax credits can help lower the amount of tax you owe, but do you know the difference between the two? What is a tax deduction? A deduction reduces the amount of income you pay taxes on, which means you could pay less in

U.S. Senator Heidi Heitkamp recently announced that she introduced bipartisan legislation that would allow more student veterans in North Dakota and across the country to take advantage of paid internships and

As reported by the CPA Practice Advisor: The IRS has announced that eligible employers who provide paid family and medical leave to their employees

The U.S. Department of the Treasury and the IRS have issued a notice stating that proposed regulations will be issued addressing the deductibility of state and local tax payments for federal income tax purposes. Notice 2018-54 also informs taxpayers that federal law controls the characterization of the payments for federal income tax

President Donald Trump quietly issued an executive order on April 10 calling for federal government agencies to enforce new requirements for low-income recipients of food assistance, Medicaid, and low-income housing subsidies to join the work force or lose their benefits. The move is part of the administration’s broad overhaul of

Tax credits vary widely and reduce taxes owed dollar for dollar. But what are tax credits, exactly? Tax credits differ from tax deductions, which most small businesses claim for expenses like office supplies and employee wages, in that deductions serve to reduce taxable income, resulting in lower taxes. Tax credits, on the