Nonprofit organizations rely heavily on all sorts of workers, from full-time employees to volunteers to independent contractors. This guide breaks down key elements of the new independent contractor rules and what nonprofits need to know.
The Indiana Department of Revenue (DOR) has changed how nonprofit organizations file their annual reports. Learn how this affects your organization.
IRS proposes new regulations on Donor-Advised Funds, seeking clarity on definitions and taxable distributions.
Beneficial Ownership Information reporting is a crucial mandate impacting over 30 million businesses in 2024. Discover why organizations must take heed and comply with this new federal law. Learn about filing deadlines, exemptions, and the potential penalties for noncompliance.
Explore Dean Dorton's latest Federal Equine Depreciation Summary as of December 5, 2023. Gain valuable insights into equine-related tax strategies and depreciation guidelines.
Learn about planning opportunities and tips to reduce 2023 income taxes.
The IRS has announced a moratorium on the processing of new employee retention credit (ERC) claims through at least the end of 2023.
When planning for the future, business owners often are engaged in forecasting, reflecting on past performance, and setting goals.
Pass-through entities (PTE) and their owners will need to consider several factors when deciding whether to elect to pay tax at the entity-level, including the state of residence of the entity’s owners, whether the PTE does business in other states, whether nonresident owners are able to claim a credit for PTE taxes paid to Kentucky, and other credits available to the PTE or its owners.
Lowering Kentucky’s individual income tax and expanding the base of services subject to sales tax was a point of emphasis during the 2022 Session of the Kentucky General Assembly. This article provides answers to a few frequently asked questions we've encountered about the tax changes, which became effective January 1, 2023.