It’s critical for business owners and managers to understand how to present contingent liabilities accurately in the financial statements. Under U.S. Generally Accepted Accounting Principles (GAAP), some contingent losses may…
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As Maryland businesses continue to navigate tax As Maryland businesses continue to navigate tax compliance, the state is introducing an optional tool for managing estimated payments for pass-through entities (PTEs).…
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When you think about tax deductions for vehicle-related expenses, business driving may come to mind. However, businesses aren’t the only taxpayers that can deduct driving expenses on their returns. Individuals…
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As the end of the year approaches, many people start to think about their finances and tax strategies. One effective way to reduce potential estate taxes and show generosity to…
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In June 2024, the IRS released final regulations addressing the prevailing wage and apprenticeship (PWA) requirements for increased clean energy tax deduction or credit amounts. These tax breaks were made…
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As of September 30, 2024, Intuit will discontinue the sale of new QuickBooks Desktop subscriptions in the US. This change marks an important transition for many QuickBooks Desktop users as…
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