Being a public figure in today’s day can be very profitable and comes with a far-reaching platform that can be used to make a significant impact for charitable causes. Along with this, however, comes an unprecedented spotlight with increased scrutiny and significantly more reputational risk than the average person. We help navigate this critical area…
An incentive stock option (ISO) plan allows employees the potential opportunity to purchase shares of their employer’s stock at a discounted price. ISOs offer many tax benefits, making them an attractive option for employees who wish to partake in the future growth of their employer’s stock. Tax Benefits of ISOs One of the many benefits…
It’s that time of year – welcome to your tax season activities. The countless Excel worksheets and the complex manual data processes are too stressful and intense. Let’s agree that there are other activities that need your attention. Struggling With Tax Compliance and Data Management? Each year we see clients struggle with tax compliance and…
R&D Capitalization makes its crash landing onto 2022 tax returns! Historically, companies performing R&D have enjoyed a full deduction for these costs and likely an R&D credit to boot. R&D Capitalization rules taking effect in 2022 could turn an expected tax loss and/or credit into an unexpected tax bill. Discover how R&D Capitalization might affect your tax…
As storefronts move to sell online, businesses are looking to upgrade or invest in an e-commerce platform. The challenge of managing a platform is that e-commerce websites are static. In this post, we’ll explore the benefits of headless commerce and headless CMS. Traditional e-commerce would require rebuilding the platform from scratch each time you need…
Small organizations often assume they can fly under the radar and avoid cyber threats. We typically hear, “We are too small to be a target for cybercriminals,” which is not necessarily true. For example, Withum serviced a small non-profit organization that shared this sentiment and became a victim of ransomware. The attack shut down their…
The IRS recently released Notice 2023-2 providing their initial guidance regarding the application of the excise tax on the repurchase of corporate stock. The notice provides interim guidance which taxpayers may rely on when applying the excise tax until final regulations are issued. The excise tax, §4501, was enacted as part of the Inflation Reduction Act…
Building off the substantial growth in financial services, including the SPAC sector, Withum, a top 25 advisory and accounting firm, announced the promotion of partner Jay Shepulski to the National Leader of its Private Equity Practice. In his new role, Shepulski will advise and strategize with private equity sponsors, portfolio management teams and clients to…
Take a moment to think about your daily business operations – do you notice high stress levels from your staff? Are their day-to-day tasks tedious, outdated, and time-consuming? Are you receiving internal and external complaints about your business operations? These could all be signs that it is time to streamline one or several organizational processes….
Wondering how to use Power Automate or wondering what exactly it is? Power Automate is an incredible tool in the Microsoft Power Platform toolbox that can help your business automate tasks by creating low/no code flows, freeing up your team members’ time to work on challenges that require a human touch. Here are some valuable…