401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000
The IRS has announced updated contribution limits for retirement plans in 2025, allowing individuals to save more for their futures. The 401(k) contribution limit...
Form 8990: Limitation on deduction for Business Interest Expense
Form 8990 is a crucial IRS form that helps businesses to calculate their interest expense deductions under the Tax Cuts and Jobs Act (TCJA)....
LLC Pass-Through Taxation: Key Lessons from a Recent Tax Court Case
LLC pass-through taxation allows business owners to simplify their tax filing process by reporting the income of the business directly on their personal tax...
Good News for Taxpayers! New E-Way Bill 2 Portal Launches on 1st June, 2024
The Goods and Services Tax Network (GSTN) has announced the launch of a brand new E-Way Bill 2 portal, called E-Way Bill 2, to...
IRS Tax Tips: Emergencies, Disaster Relief, and Protecting Your Financial Records
IRS Tax Tips for Emergency: Disasters can happen suddenly, causing a lot of chaos and problems. For businesses, being ready for emergencies is super...