Share The Tax Cuts and Jobs Act gave birth to a brand new provision: Section 199A, which permits owners of sole proprietorships, S corporations, or partnerships to deduct up to 20% of the income earned by the business. Yesterday, the IRS issued highly-anticipated regulations that provide much-needed clarity on many – but not all –…
Share Passed into law on December 22, 2017, new IRC Section 199A provides taxpayers an opportunity to take a deduction of up to 20% of their income from a US trade or business. Commonly known as the QBI deduction, this deduction applies to income from sole proprietorships, partnerships, S corporations, trusts and estates. Tax professionals…
This FQHC data reporting article is a continuation of our Federally Qualified Health Centers (“FQHC”) series covering the requirements of the Health Center Program. All Federally Qualified Health Centers must accurately compile and report data and establish a system for program performance. This program is regulated by the Health Resources and Service Administration (“HRSA”). I…
The two basic ingredients needed to form a real estate venture are money and talent. Cash distribution waterfalls, including preferred returns and other promotions or incentive arrangements, are ways to attract money and talent to the venture. An organization may utilize an incentive strategy to give its key employees the ability to participate in its…
Share On Monday, July 16, 2018, the Treasury Department and Internal Revenue Service (“IRS”) released Revenue Procedure 2018-38 (“Revenue Procedure”) removing the donor disclosure requirement for certain tax-exempt organizations. More specifically, tax-exempt organizations, other than Internal Revenue Code (“IRC”) §501(c)(3) and §527 organizations, will no longer be required to disclose donor names and addresses for…
Vulnerability Assessments: Vulnerable: susceptible to physical or emotional attack or harm. Synonyms: defenseless, powerless, weak, susceptible. I’m sure your initial thoughts, like mine, personified the word. But today this term is used to describe an organization’s cybersecurity posture. Maintaining an awareness of your organization’s vulnerabilities is one way to protect yourself from a cybersecurity attack….
Share Penetrationtesting is one of the essential elements neededto gain insight into your currentcybersecurityposture. Itenablesyouto identify how you may be susceptible to unknownweaknessesthat external parties may be able to exploit.Making the decision to have a penetration test done to your network is a great first step. Understanding what having the test done will show you,…
Share Withum 300 Supports Leukemia & Lymphoma Society For the third consecutive year, team members from our Withum 300 health and fitness group participated in the New Jersey Corporate FunRun at the South Mountain Recreation Complex in West Orange, New Jersey. The event, which was held on July 24, benefited the Leukemia & Lymphoma Society….
Using Risk to Your Advantage Think of the ‘thing’ that could move you and your organization forward. And now remind yourself of all of the reasons you haven’t pursued it. After all, there is always ‘something’ challenging our growth – day to day operations, not enough time, limited resources, etc.. This article series aims to…
Share These days, more purchases are made online than from brick & mortar stores. Many of these sales were tax-free until, on June 21, the Supreme Court moved to close this tax loophole. In a 5-4 decision, the Court ruled that online retailers would now be required to collect sales tax even in states where…