Withum Partner and Founders & Tech Executive Services Team Co-Lead Dan Krolikowski was recently interviewed on LinkedIn Live with Aaron Price of TechUnited:NJ. They discussed crucial tax considerations for founders and entrepreneurs, including Qualified Small Business Stock and its benefits, TCJA provisions, and more. Is Your Business Eligible for Qualified Small Business Stock? If you…
The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia. Key Hurricane Helene Tax Relief Information Who qualifies for this relief?…
Withum is proud to share Caroline Weirich, Supervisor, was nominated at the Maryland Association of Certified Public Accountants (MACPA) 2024 Women to Watch Awards in the Emerging Leader category. Caroline has five years of experience working in public accounting, primarily servicing clients in the Multiemployer Benefit Plans and Labor Unions industries. She is a natural…
In the dynamic landscape of global business, innovation is not just a buzzword but a fundamental necessity for growth and competitiveness. As U.S. companies push the frontiers of research and development (R&D), maximizing the value of these investments is crucial. Australia’s Research and Development Tax Incentive Program (RDTIP) offers significant benefits to qualifying businesses. Many…
Microsoft’s report, “Generative AI in Real-World Workplaces,” highlights a key finding: the difference between perceived productivity and measurable time savings with generative AI in business tools. Employees feel a reduced mental burden and perceive an increase in productivity, along with enhanced job satisfaction and higher-quality work when using AI, even if the measured time saved…
From enhancing operational efficiency to automating complex processes, AI promises a new era of productivity and innovation for manufacturers. However, with these advancements come significant cybersecurity challenges that must be addressed to safeguard operations – and reputations. Opportunities and Risks AI in advanced manufacturing offers numerous benefits. For instance, generative AI can streamline production by…
Cybersecurity is a critical focus for businesses and individuals alike, as the boundaries between work and personal life increasingly intersect in the digital realm. The need to protect sensitive information has never been more urgent, and taking practical steps to address cyber risks is essential for staying ahead of potential threats. Let’s take a look…
Operational Process Mapping and Optimization Opportunities for Improvement Download a PDF of this case study. Executive Summary A client in the union pension fund space offers various services including healthcare benefits, retirement and pension plans, disability and life insurance and advocacy support. The company faced challenges with its business systems – expressing a need for…
A vast majority of lower middle market business owners have not taken the time to plan for their future exit from the business.There are a number of steps that can and should be taken in the years leading up to this event.The topics discussed below are certainly not all inclusive but meant to give an…
On July 18, 2024, the Consumer Financial Protection Bureau (CFPB) released a proposed interpretive rule, “Interpretive Rule,” that, if finalized, represents a significant change in how earned wage access (EWA) products are regulated. EWA products allow employees and contractors (hereafter “recipient”) early access to earned wages before their scheduled pay date for additional short-term liquidity…