The IRS announced comprehensive tax relief provisions for taxpayers affected by California’s winter storms. These relief provisions provide an extended due date to May 15, 2023, for disaster-affected taxpayers to file returns. Relief provisions include: Additionally, eligible taxpayers will have until May 15 to make 2022 contributions to their IRAs and health savings accounts. As…
In part one of our Enterprise Resource Planning (ERP) series, we outlined some common inventory challenges and how to solve them by upgrading to an ERP inventory management system. In this next part, we’re going to take a deep dive into the inventory control ecosystem, and how a corporate ERP system can affect the processes…
How do you know when your company has grown beyond QuickBooks’ capabilities? Let’s cover the key areas that will help you make an educated decision on when QuickBooks is too small for your growing organization. QuickBooks is one of the world’s most well-known and widely used accounting software solutions that can help turn a simple…
State and local governments, based on volume caps established by the federal government, are able to issue tax-exempt housing bonds. The proceeds of these bonds are used to finance mortgages for, among other uses, the production of affordable housing. Tax-exempt bonds are those where the interest paid to the bondholders is exempt from federal income…
As we begin 2023, we are still seeing many businesses that have not yet claimed the employee retention credit (“ERC”), and the potential benefit of this credit has attracted many inexperienced service providers making exaggerated promises in exchange for outsize contingency fees. In fact, these service providers have become so prevalent that the IRS, in…
When you hear the word blockchain, naturally, cryptocurrency comes to mind. Its decentralized approach keeps transactions uniform across the entire network, preventing tampering. However, developers are now finding ways to integrate blockchain technology within the games, bringing once-in-game-only currency to the real world. Typically, in-game currency held no value other than to the game in…
On January 1, 2023, O’Connor & Drew, PC, a public accounting, tax and business advisory firm headquartered in Braintree, MA, today announced it joined its practice with WithumSmith+Brown, PC (Withum), a nationally recognized CPA and advisory firm with 20 offices and annual revenue of $450M, ranking in the top 25 firms in the country. O’Connor…
Check out Withum’s most read insights from this past year including topics like Power Platform Licensing, COVID Relief Programs, Supply Chain Disruptions, Year-End Planning and more. Top Insights of 2022
Withum is proud to share that Kelsey Thomas, Senior Manager of Transaction Advisory, was appointed to serve as a board member of the Upstate Capital Association of NY. The Upstate Capital Association of NY (the “Association”) is a prominent network for PE investors, M&A professionals, venture capitalists, business owners and CEOs and entrepreneurs whose goal…
Withum is proud to share that the Los Angeles Business Journal has named Chris Passmore on their Thriving in their 40s list for 2022. Christopher Passmore, CPA, MBA, specializes in assurance and business consulting services to emerging and middle-market companies and leads Withum’s Encino office as the partner in charge. Chris services a wide variety…