Hurricane Updates: IRS Tax Related Assistance and Warning about Charity Scams

In the wake of the devastating hurricanes that have ravaged Florida and the Southeast in recent weeks, the Internal Revenue Service warned about charity scams and reassured victims that it stands ready…

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Election 2024: Overview of Tax Policies

Tax policy has emerged as a central topic in the 2024 US presidential election because it directly affects the financial well-being of individuals, businesses, and the overall economy. It not only determines…

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Blog: Sellability – A Priority for Savvy Business Owners

What are your business objectives for the year? Many entrepreneurs are focused on profitability and perhaps a revenue target. While these goals are critical, there’s another objective that could provide…

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QuickBooks Desktop to Stop Selling to New U.S. Subscribers

Intuit has made a decision that after Sept. 30, 2024, it will no longer sell new subscriptions to U.S. subscribers of the following products: Existing subscribers are not impacted by this change. Existing QuickBooks…

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IRS Moves Forward with Employee Retention Credit Claims

The Internal Revenue Service (IRS) has announced new measures to support small businesses and prevent improper payments under the Employee Retention Credit (ERC) program. These actions include accelerating…

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IRS Relief Now available to Hurricane Debby Victims

The Internal Revenue Service announced tax relief for individuals and businesses in five states affected by Hurricane Debby. Affected taxpayers in South Carolina, North Carolina, Florida, Georgia, and…

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Blog: 3 Ways to Help Your Business Operate Without Relying on You

If you’re aiming to build a valuable company, one of the most critical steps is ensuring your business can run smoothly without your constant involvement. While this journey might seem overwhelming, there…

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Update on Transferring Clean Energy and Vehicle Tax Credits

On July 1st, the IRS’s final regulations on clean vehicle credits and the transfer of eligible credits took effect and Haefele Flanagan is available to help you take full advantage of these tax incentives…

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Blog: The Underrated Metric That Can Boost Your Company’s Value

You know gross margin impacts your profit, but have you considered its effect on your company’s value? When evaluating your company’s value, acquirers and investors often scrutinize your gross profit…

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Estate of Connelly vs. US Shapes Estate and Tax Planning

In a unanimous decision issued on June 6, 2024, Justice Thomas ruled in favor of the Internal Revenue Service (IRS) on Estate of Connelly v. United States. The ruling held that life insurance proceeds…

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