ERC Audits: How to respond to increased ERC audits from the IRS

Introduction In a bid to support businesses affected by the pandemic, the IRS introduced the Employee Retention Credit (ERC). This refundable employment tax credit aimed to help businesses affected by COVID-19 keep employees on payroll. While this initiative has been a lifeline for many, the rise in ERC audits underscores the IRS’s intent to ensure…

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Taxes Tax Planning Tips for Small Businesses

Tax Planning Tips for Small Businesses

Tax planning is a critical aspect of running a successful small business. It involves making strategic decisions and taking proactive measures to optimize your tax liability, maximize deductions, and ensure compliance with tax laws. Small businesses face unique tax challenges and opportunities, and effective tax planning can help navigate these complexities while saving valuable time…

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